Indonesia’s Gojek raises US$1.2 billion to fight Grab.

Investors include Google, JD.com, and Tencent.
Gojek Raises US $1.2 billion News Asia Today

After a series of speculations that Grab and Gojek were going to merge, it turns out that both companies will still continue their rivalry.

Gojek has just announced that the company has secured a US$1.2 billion investment as part of their Series-F round, according to a Bloomberg report.

Some of the investors in the round include Google, JD.com, and Tencent, where all 3 are not investors in Grab.

Gojek co-CEOs News Asia Today
Gojek co-CEOs : Kevin Aluwi and Andre Soelistyo

Many major conglomerates from the U.S. and China have long been eyeing SouthEast Asia as a viable market to push their products and services further, and see investing in Gojek bringing major strategic value to them.

Gojek will be using the funds to continue expanding their business despite the challenging economic outlook, and to increase their market share in areas outside of Indonesia.

The investment puts Gojek in a strong position to compete heavily with rival company Grab.

Jia Suriyanto
Indonesian Journalist at News Asia Today. I cover the latest news and stories on Indonesia, particularly on business.