Valuation almost USD 10 Billion, Go-Jek gets Decacorn?

Go-Jek is opening a new funding round, in which the company is reportedly getting fresh capital injections sourced from Google, Tencent, and JD.com. All three spent an investment of USD 920 million or around Rp. 12.9 trillion (exchange rate of USD 1 = Rp. 14,065) at Go-Jek.

The company headed by the Nadiem Makarim plans to raise funds of up to USD 2 billion. A budget that can be the capital of Go-Jek, where they are expanding their business to Southeast Asia.

As quoted from Tech Crunch, Saturday (01/26/2019) if investments from the three Google, Tencent, and JD.com are agreed upon, it will make Go-Jek’s valuation reach USD 9.5 billion or equivalent to Rp 133 trillion!

The valuation can certainly bring Go-Jek as the first Indonesian startup to win the ‘title’ decacorn, a term of a startup that has a value of more than USD 10 billion.

Previously, Go-Jek together with Tokopedia, Traveloka, and Bukalapak were startups at the Unicorn level, startups that valued above USD 1 billion.

So far, not including the latest budget rumors from Google, Tencent, and JD.com, Go-Jek has collected more than USD 2 billion from various investors, including a round of USD 1.4 billion last year to make this ride hailing company own business value of USD 5 billion.

Go-Jek was first established in 2010. At that time, go-Jek served motorcycle transportation that relied on call centers. In 2015, Nadiem brought Go-Jek more innovatively by presenting applications until popular today.

Go-Jek itself has so far developed a business outside of transportation by offering fintech and other services in Indonesia. This Indonesian Unicorn has also expanded its market to Vietnam through Go-Viet, Thailand with the Get and Singapore brands in the near future.

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