According to the report, Go-Jek is expected to make official announcement about the investment “soon”
Indonesian ride-hailing giant Go-Jek has been reported to be in talks with Chinese internet giant Tencent for a possible investment.
While the other investors are not known, the report believes that Go-Jek’s current investors are involved in the round.
Citing two anonymous sources, the deal was signed last week and will be announced publicly “soon.”
The investment follows Go-Jek’s most recent round, in which the company raised US$550 million from investors such as KKR, Warburg Pincus, Farallon Capital, and Capital Group Private Markets.
Though there has not been any confirmation from Go-Jek about the investment, it has been said that the company will finally aim for regional expansion after focussing in the Indonesian market for a long time.
The investment is cosidered to be an interesting development in the tough battlefield of ride-hailing startups competition in Asia, particularly Indonesia.
This is mainly because Tencent Holdings has been known to have invested in several ride-hailing startups, including Didi Chuxing, which has minority stake and has participated in a funding round for Go-Jek’s competitor Grab.
More on this story as it develops.
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