Home Breaking News Ride-hailing giant gojek bags US$ 150M in funding

Ride-hailing giant gojek bags US$ 150M in funding

gojek

Ride-hailing giant gojek bags US$ 150M in funding
Ride-hailing giant gojek bags US$ 150M in funding

About gojek

Founded in 2010 and headquartered in Jakarta, gojek is an Indonesian on-demand multi-services provider and digital payment technology group. It initially provided courier and motorcycle ride-hailing services, before launching the app in January 2015 in Indonesia. Upon launching, the app provided only four services: GoRide, GoSend, GoShop, and GoFood. Gojek has now transformed into a Super App, providing more than 20 services and is valued at US$ 10B today.

gojek

It operates across main cities in five Southeast Asian countries namely Indonesia, Vietnam, Singapore, Thailand, and the Philippines where it provides access to a wide range of services, from transportation and digital payments to food delivery, logistics and many other on-demand services. As of June 2020, gojek’s app has been downloaded 190 million times by users across the said regions.

gojek has raised US$ 4.8B from investors like Google, Mitsubishi, Pegasus Tech Ventures, Tencent and Visa, among 30 other investors across 10 rounds. For the last 10 years, it has also made 10 acquisitions, the latest deal being with WePay in September 2020.

gojek

gojek is the first Indonesian unicorn company, as well as Indonesia’s first “decacorn” company.

About Telkomsel

Founded in 1995 and headquartered in South Jakarta, Telkomsel, is an Indonesian wireless network provider and a subsidiary of Telkom Indonesia. Telkom Indonesia holds the majority of 65% of the shares in Telkomsel, with Singapore Telecommunications Limited owning the minority 35%. It is the largest wireless carrier in Indonesia and claims to be serving 170 million customers across the nation.

Since the last 25 years of its existence in Indonesia, Telkomsel has been unswervingly deploying the latest broadband technology, including being the first to test 5G services in Indonesia. Additionally, it is constantly developing online businesses such as mobile gaming, online entertainment, online advertising, online lifestyle, mobile financial services, business solutions, and the Internet of Things to empower the Indonesian society to live a good and comfortable life.

More details about the investment

The latest investment symbolizes an extension of the two tech giants’ multi-year partnership that has offered inexpensive data packages to gojek driver-partners since 2018. The collaboration is also intended to provide greater convenience and benefits such as state-of-the-art product offerings and cost savings through combined promotions and product packages. The two titans will also partner in developing  Indonesia’s digital lifestyle sector and increasing the advertising technology solutions available to dealers of all sizes. Furthermore, they will work together to execute professional training programs for Telkomsel employees and share the best practices in order to boost the country’s technology talent base.

gojek co-CEO Andre Soelistyo quoted, “By working together, we hope to help Indonesia become a true digital powerhouse in Southeast Asia and bring the benefits of the digital economy to millions more consumers, driver-partners and small businesses.”

Telkomsel President Director, Setyanto Hantoro said that they believe that working with gojek and its wide-ranging ecosystem will fast-track Telkomsel’s growth as a digital telco and its efforts to build a comprehensive and sustainable digital ecosystem, which is predominantly crucial amid the pandemic and after it as well. He was quoted to have said, “This spirit of collaboration will continue to be our guiding force as we seek to bring the benefits of digital technology in every aspect of life, to all levels of Indonesian society.”

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Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.

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