Tencent leads investment round in Indonesia

Updated 2017-05-05 09:30:33 Global Times

Chinese Internet giant Tencent has led a new round of investment totaling .2 billion in Indonesian mobile ride-hailing and delivery service provider Go-Jek, industry website techcrunch.com reported on Thursday, citing two sources close to the matter.

The deal, which was reportedly signed last week, valued the company at billion, the report said. Other investors in the round aren't known.

Go-Jek is one of Indonesia's largest start-ups by valuation and a market leader in the country.

In August 2016, Go-Jek raised 0 million from KKR and Warburg Pincus, which pushed up the company's market value to .3 billion, according to media reports.

The motorbike on-demand start-up competes with Uber and Singapore-based Grab in the Indonesian market. All of these companies have introduced bike taxi services because "two wheels" is considered a more efficient way to navigate in the country's congested cities, techcrunch.com said.

Go-Jek has more than 200,000 drivers across 25 cities in Indonesia.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 26 2017 02:49:52

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 26 2017 02:49:52

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 26 2017 02:49:52

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords