Go-Jek

Go-Jek which is an Indonesian ride-hailing firm has now secured $1 Billion in the funding round which is led by the Google Parent company Alphabet, Tencent Holdings and JD.com, according to the source and report which has been revealed.

The company said in a statement today that it has now finalized the first close of its funding round of Series F, with the collaboration of investors as Provident Capital and Mitsubishi.

With the Go-Jek declined to comment on any of the funding raised or the valuation, but some of the reports say that it has raised the amount at the valuation of $9 Billion to $10 Billion.

Reuters also reported last year in September that the Go-Jek was also seeking to raise around $2 Billion from some of its existing investors as it challenges the Sin galore based rival Grab to cover the major region.

Go-Jek which is launched in the Jakarta in 2011, it a play on the local word for the motorbike taxis, which is evolving from a ride-hailing service to a one-stop app with which its customers can make online payments and even order any of the items from food to massages and groceries.

Go-Jek said in a report previously that it will use the proceeds to make its leadership in Indonesia and expand to other parts of the region. On the other hand, its rival Grab has raised $3 Billion in 2018 last month as a part of its financing round series H.

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