A Go-Jek driver rides a motorcycle on a street in Jakarta, Indonesia, December 15, 2017. REUTERS/Beawiharta
SINGAPORE: Google, Singapore investor Temasek and China's Meituan-Dianping are investing in Go-Jek as part of a US$1.2bil (RM4.72bil) 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 South-East Asia, a region of 640 million people, and the insatiable appetite for funds at ride-hailing businesses.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
