Ride-Sharing Company Gojek Closes $1.2 Billion In Funding

By Annie Baker ● March 18, 2020
  • Gojek, a Southeast Asia based ride-hailing company, announced it raised $1.2 billion. Including this funding round, Gojek has raised a total of nearly $3 billion.

Gojek, a Southeast Asia based ride-hailing company, announced it raised $1.2 billion. Including this round of funding, Gojek has raised a total of nearly $3 billion.

“We’re not stopping there as we are still seeing strong demand among the investment community to partner with us,” said Gojek Co-Chief Executive Officers Andre Soelistyo and Kevin Aluwi in an internal memo sent to employees via Bloomberg. “There are a number of exciting ongoing conversations that we will be able to update you on very soon.”

One of Gojek’s largest rivals is Grab. But there were rumors that Gojek and Grab held talks to merge or put together a different kind of deal. Gojek and Grab both offer ride-hailing services, meal delivery, and payments in Southeast Asia.

Gojek did not disclose who the investors were in this round. There are is a rumor that Amazon.com was interested in putting money in Gojek, but it is unknown whether the e-commerce giant participated in this round.

The co-CEOs of Gojek succeeded founder Nadiem Makarim. Makarim departed from Gojek to become the education and culture minister of Indonesia in October 2019.

Some of Gojek’s other investors include Google, Tencent, and Temasek. And with this funding round, Gojek plans to expand its operations. It is unknown what Gojek’s valuation is with this funding round. But Gojek was valued at $10 billion when it last raised funding.