Economy

Google invests in Indonesian ride-hailing service Go-Jek

Google invests in Indonesian ride-hailing service Go-Jek

Google has said it has invested in ride-hailing app GO-JEK, a leading Indonesian startup that offers online motorcycle and vehicle taxi services, as well as other services such as food delivery and mobile payments.

The latter three made up a $1.2bn tranche of final fund raising in Go-Jek that was launched in April a year ago.

Go-Jek, a play on the local word for motorbike taxis, delivers everything from meals and groceries to cleaners, masseuses and hairdressers across Indonesia's capital city Jakarta, all at the touch of a smartphone app.

Although Go-Jek now only operates in Indonesia, it plans to take its Go-Pay mobile payment service into other markets.

Another way for Google to support the development of Indonesia's Internet economy is by investing in one of the country's leading startups: Go-Jek. This announcement comes a month after its first direct investment in India, Dunzo, in December past year. So, to help Indonesians build the next great startup, we've already trained almost 60,000 Indonesians on mobile app development, toward our goal of reaching 100,000 developers by 2020.

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Further, Google's Gapura Digital initiative has trained more than 40,000 small business owners in 10 cities to use the power of the internet, with more cities to come.

Thus, while Dara Khosrowshahi, might call India and Southeast Asia unprofitable, these regions seem to be biggest markets and have seen the largest growth. Ride-hailing in the region is predicted to become a $20.1 billion per year industry by 2025 up from $5.1 billion in 2017, according to a report co-authored by Google.

Alphabet is investing in the challenger to ride-hailing services Uber and Grab in Indonesia, alongside investors Meituan-Dianping of China and Temasek, the Singaporean sovereign fund.

Google vice-president Caesar Gupta said the company's investment in Go-Jek is part of its strategy to participate in Indonesia's flourishing startup ecosystem.


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