Indonesia just banned a $100 million Uber-like startup, and it is suddenly worth nothing

Go-Jek, the $100 million Indonesian start-up which provides an Uber like service with motorbikes has just been made illegal.

Indonesian media is reporting that the Ministry of Transportation has asked local police to take action against the operators of internet based transport services as well as prohibit drivers of the service due to their effect on other forms of public transport.

The government is claiming that their reasoning behind the bans of the services are due to the motorbikes not meeting the requirements needed for a public transport vehicle.

Go-Jek currently has around 20,000 drivers in Indonesia across major cities such as Jakarta, Bandung and Bali, with many driving as their sole source of income.

Just yesterday Google announced that Go-Jek was the most searched term in Indonesia in 2015.

Uber and other local app based transport services such as Grab Taxi have also been banned in Indonesia as part of the ruling.