#Asia Go-jek joins the fray, set to raise US$550M in Asia’s ride-hailing war: TechCrunch


Go-jek’s services feature is a serious advantage and one place where the company stands apart from the competition


Of course they did.

In the same week Didi Chuxing acquired Uber China, and subsequently turned around and invested US$600 million into Grab (with help from Softbank), Jon Russell from Techcrunch is reporting Indonesia’s Go-jek has raised US$550 million of fresh funding to take on Uber and Grab in the region.

The deal would value the company at US$1.3 billion.

Also Read: Uber has lost once, and we’ll make them lose again: Grab CEO tells in a leaked email to staff, post Uber-Didi merger

The article cites a source familiar with the deal and claims the money is to be used for the services business and not international expansion.

Services make sense as a destination for invest because, as compared with regional rivals, Grab and Uber, Go-jek has been the most successful in building a one-stop-shop multi-service platform in which — among others — its food delivery, package logistics, movie ticketing and cleaning services are all popular.

Regionally, Uber and Grab have not gained a similar traction outside of their core taxi and ride-sharing services.

The ride-sharing industry has made one incredible announcement after another this week as the Didi-Uber merger in China seems to be having a ripple effect across the region. Furthermore, as Grab and Didi have a significant financial tie-up, Go-jek suddenly finds itself staring across the proverbial boxing ring at considerably well-financed competitors.

Also Read: Uber China to merge with Didi in US$35B deal: Bloomberg

e27 has reached out to Go-jek for a response and will update as the story develops further.



The post Go-jek joins the fray, set to raise US$550M in Asia’s ride-hailing war: TechCrunch appeared first on e27.

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