Indonesia’s Go-Jek raises $1 billion from Google, Tencent

Indonesia’s Go-Jek raises $1 billion from Google, Tencent

Indonesia’s ride-hailing startup, Go-Jek, said it has raised around $1 billion in a funding round.

According to Reuters News, the latest funding round was led by Alphabet Inc’s Google, JD.com Inc and Tencent Holdings, sources familiar with the matter said on Friday.

The startup said in its Google, Tencent and JD.com have invested in Go-Jek earlier.

The company said in a statement on Friday it had finalised the first close of its series F funding round, with Mitsubishi Corp and Provident Capital joining as investors.

Go-Jek declined to comment on the amount raised or its valuation, sources told Reuters News that the company is valued at $9 billion to 10 billion.

Reuters reported in September that Go-Jek was seeking to raise $2 billion from its current investors, as it challenges Singapore-based rival Grab for a larger share of the region.

Launched in 2011 in Jakarta, Go-Jek – a play on the local word for motorbike taxis – has evolved from a ride-hailing service to a one-stop app through which its customers can make online payments and order everything from food and groceries to massages.