Google invests in Go-Jek, an Indonesian company that provides transport services similar to Uber and rivaling it. The contract is expected to be concluded next week – TechCrunch said on Thursday.
However, the website said that it is not known when Go-Jek decides to provide information about Google’s support to the public – its activities are characteristic of keeping matters related to investing in secret.
Google is not the only company that has been interested in the Indonesian rival Uber – last year investment plans were also announced by the Chinese giant Meituan-Dianping. In 2017, the company also secured financial support from the Chinese Tencent.
In 2016, Go-Jek managed to raise the amount of USD 550 million. Since then, however, as TechCrunch notes, competition in the sector has increased significantly, and the market initially monopolized by Uber has also begun to be the target of other companies, such as Grab from Singapore or Chinese Didi. Nevertheless, Uber remains the company with the largest investment contributions, even after the reduction of the total valuation of the company, which occurred after the conclusion of the contract with the Softbank group.
Go-Jek was established in 2011, and the main service provided by this company is the rental of motorcycle taxis on demand. In South-East Asia there are similar enterprises providing bicycle services – crowded agglomerations of that region allow for much faster communication using two-wheelers than on four wheels.
With time, Go-Jek expanded its offer to include traditional taxis, purchase services as well as mobile payments. The main area for the company’s operations is Jakarta, but the employees of the engineering departments of the company are also located in India.
The company has announced that it intends to pay an astronomical sum of 38 billion. tax dollars on income earned outside the country.