Indonesia’s largest private tech company Gojek has received an additional USD 300 million in investment from state-owned mobile operator Telkomsel ( which is the largest telecom operator in Indonesia with more than 170 million subscribers), as announced by both companies on May 10, 2021, thus strengthening the partnership deal between them which started in November 2020, where Telkomsel had made an investment of USD 150 million in Gojek.
The company aims to use the money on a merger deal worth USD 18 million with the e-commerce platform Tokopedia. This deal would result in a new entity called GoTo and thus making Telkomsel one of GoTo’s top eight investors.
About Gojek
With headquarters in Jakarta, Indonesia, and CEO Kevin Aluwi and Andre Soelistyo, Gojek is a “super app”, one app for ordering food, commuting, digital payments, shopping, hyper-local delivery, getting a massage, and two dozens services. It is Indonesia’s first and fastest-growing Unicron building an on-demand empire across Southeast Asia.
The app was launched in 2015 and is now the largest consumer transactional technology group on a GTV -basis in Southeast Asia. As of 2018, Gojek processed more than USD 9 million annualized Gross Transaction Value (GTV) across all markets where it operates- Singapore, Thailand, and Vietnam. It has raised over USD 3.45 billion from high-profile investors like Facebook, Google, Visa, Paypal, and Tencent.
Partnership of Gojek and Telkomsel
The two companies have maintained a deal since 2018 to subsidize the cost of mobile data consumed by the ride-hailing firm’s driver-partners. Some of these include integration of Telkomsel MyAds with GoBiz, which enables Gojek’s MSME partners to use MyAds to expand their outreach to Telkomsel users, and easy onboarding for Gojek MSME partners to become Telkomsel reseller partners through the DigiPos Aja! Application.
What does the investor say?
“Telkomsel is optimistic that this latest investment will open more opportunities for society to access advanced digital technology-based innovations developed by homegrown companies,” said Telkomsel chief executive Setyanto Hantoro in a statement.
He further said the funding was part of a strategy to bolster its digital business through connectivity, platforms, and services. The two firms also co-market gaming services through Telkomsel’s Dunia Games and GoPay in collaboration with Tencent, providing greater value for PUBGM users.
What does the CEO say?
Gojek co-CEO Andre Soelistyo stated the operator’s continued funding will optimize each company’s resources and technical expertise, to innovate and expand the benefits of the digital economy to more consumers, drivers, and SMEs across Indonesia.
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