A woman rides on the back of a motorbike, part of the Go-Jek ride-hailing service, on a busy street in central Jakarta. - Reuters
SINGAPORE: Google, Singapore investor Temasek and China’s Meituan-Dianping are investing in Go-Jek as part of a US$1.2bil fundraising round, bolstering the Indonesian ride-hailing firm in its battle with deep-pocketed rivals Grab and Uber, sources said.
The investments by Alphabet Inc’s Google - its first in a ride-hailing firm in Asia - and the other prominent investors underscore both the potential of the business in Southeast Asia, a region of 640 million people, and the insatiable appetite for funds at ride-hailing businesses.
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