Amazon In Talks For Stake In Indonesia’s Ride-Hailing Startup Go-Jek
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Amazon.com Inc is in early talks with Go-Jek Group to buy a stake in the Indonesian ride-hailing startup, a source familiar with the matter told Reuters on Wednesday.
Details of the stake were not known and the source did not want to be identified as the talks are private.
Both Amazon and Go-Jek did not respond to a Reuters request for comment.
Indonesia’s first unicorn, Go-Jek, has up to 20 services and has evolved from ride-sharing to allowing its customers to make online payments and order everything from food to groceries.
Earlier this year, Amazon also bought a stake in British online food delivery company Deliveroo as it competes with Uber Technologies Inc’s Uber Eats in the global race to dominate the market for takeaway meals.
Reuters reported in July that Amazon is expanding its transportation prowess to do virtually everything short of building a car.
Go-Jek, which counts Alphabet Inc’s, Alibaba Group Holdings Inc, Tencent Holdings and Visa Inc (V.N) as investors, last raised here funding in July at a valuation of around $10 billion.
Questions & Answers
Q.What kind of business is Go-Jek and what services does it offer?
What kind of business is Go-Jek and what services does it offer?
Go-Jek is an Indonesian ride-hailing startup. It has expanded beyond ride-sharing to offer up to 20 services, including online payments and ordering food and groceries.
Q.Which other companies are already investors in Go-Jek?
Which other companies are already investors in Go-Jek?
Go-Jek already counts Alphabet Inc., Alibaba Group Holdings Inc., Tencent Holdings, and Visa Inc. As investors. They last raised funding in July.
Q.Has Amazon made similar investments in other markets recently?
Has Amazon made similar investments in other markets recently?
Yes, Amazon bought a stake in the British online food delivery company Deliveroo earlier this year. This helps Amazon compete with Uber Eats in the takeaway meals market.
Q.What is the approximate valuation of Go-Jek?
What is the approximate valuation of Go-Jek?
Go-Jek was valued at around $10 billion when it last raised funding in July. This makes it Indonesia’s first unicorn.
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