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Ride-sharing firm Go-Jek raises $1.2 BILLION - Motofire

Ride-sharing firm Go-Jek raises $1.2 BILLION

Indonesian motorcycle-on-demand startup valued at $3 billion after new investment round.

Uber competitor Go-Jek closed a new round of funding last week to the tune of $1.2 billion, according to tech media website Techcrunch.,Although the deal hasn’t been officially announced, it’s believed that Chinese internet firm Tencent led the funding, with the remainder of the money coming from existing backers.

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Go-Jek is said to have over 200,000 riders and bikes available across 25 cities in Indonesia, and is currently only focused on that market.

There’s been an increased demand in similar services of late, with Uber launching in several countries across the world, although there has been some problems. In Europe the ride-sharing model is only just starting to make waves, with companies such as Gogoro taking a different approach to the solution of providing customers with transit across city streets.

Source: Techcrunch

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