Not only Google and several Chinese investors that took part in Go-Jek’s current funding round, expected to raise around $1.5 billion (around 20 trillion Rupiah). Two local companies, e-commerce player Blibli and automotive giant PT Astra International are reportedly also participating by investing Rp3-3.5 trillion (around $250-290 million) in total for this leading on-demand startup. Blibli, backed by GDP Venture, last year had already acquired two OTA startups, Tiket.com and Indonesia Flight. Go-Jek is currently valuated at around $4 billion (Rp54 trillion).
According to Katadata, Astra International is reportedly investing $150-170 million, while Blibli is participating with $100-120 million. The agreement is said to be signed recently. None of Astra International, Blibli, or Go-Jek is giving its comment for this matter.
Previously Google has confirmed its participation in Go-Jek’s funding round. Google stated that it’s investing in Go-Jek because of strong management and leadership. It’s part of first step on winning internet economy that’s significantly rolling in Indonesia and Southeast Asia.
Beside Go-Jek, also involved in this funding round are several other prominent investors, including Tencent, JD.com, Temasek, and Meituan-Dianping. In 2017, Go-Jek had acquired three fintech startups and one event management startup to strengthen its position in industry, including to support Go-Pay payment service.
Go-Jek is tightly competing with Grab and Uber in Indonesia and planning to expand to other country in the region by this year.
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Disclosure: DailySocial, Blibli, and GDP Venture are under the same parent company
