Asia Unhedged | Indonesian Uber rival Go-Jek in talks to raise US$1 billion as Southeast Asia race heats up
A motorcycle driver with Indonesian start-up Go-Jek waiting for customers along a street in Jakarta. Photo: AFP, Adek Berry
A motorcycle driver with Indonesian start-up Go-Jek waiting for customers along a street in Jakarta. Photo: AFP, Adek Berry
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Indonesian Uber rival Go-Jek in talks to raise US$1 billion as Southeast Asia race heats up

The Jakarta-based startup is hoping to make a stand in the region’s largest economy

April 17, 2017 10:56 PM (UTC+8)

Indonesia motorcycle-hailing startup Go-Jek is in talks with investors to raise an additional US$1 billion, as the company battles Uber and Singapore’s Grab for a share of the fast growing Southeast Asian market, reports the Wall Street Journal.

Google and Singapore state investment firm Temesek Holdings estimate that the region’s ride-hailing market will grow 18% per year to reach more than US$13 billion by 2025.

Sources close to the talks said that the new round of investments would bring Go-Jek’s pre-money valuation to around US$2 billion.

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