Start-up Company Go-Jek

One of the biggest creative industries in Indonesia has brought back great news, this time coming from the start-up company Go-Jek. In the latest research entitled ‘The Global Unicorn Club’, an international research institute, CBInsights stated that Gojek has a valuation of US $ 10 billion. This means that Gojek has the right to bear the decacorn status.

Jokowi congratulates the Gojek on reaching the decacorn level

Decacorn is a term for startups that have a valuation above US $ 10 billion or equivalent to Rp 140 trillion. CBInsights calculates that there are currently only 19 startup startups in the world. Decacorn comes mostly from the US (United States).

Previously, Minister of Communication and Information Rudiantara had predicted that Indonesia would have a decacorn startup in 2019. It turns out that Indonesia does not seem to take long to wait for the presence of a startup decacorn.

Earlier this year, Go-Jek announced an injection of funds from Google, JD.com, Tencent, Mitsubishi Corporation to Provident Capital. Based on information circulating in the market, the injection of the funds was worth US $ 920 million.

Also Read: One of Indonesia’s flagship Unicorns Successfully Entered the Southeast Asian Market


This injection of funds is part of the first round of F Series funding. From this funding round, Go-Jek targets to raise funds of US $ 2 billion.

When this funding was closed, Techcrunch estimated that Go-Jek’s valuation had reached US $ 9.5 billion. Currently, the Go-Jek business includes transportation services, food delivery, and payments involving many financial transactions and has become a super app. This is a blue step for Go-Jek to be able to enter a new market and continue to develop the company.

During 10 years of operation, Gojek has held a fundraising round 9 times. According to Crunchbase, there are 24 investors injecting Gojek with total funds raised US $ 3.1 billion. Series A fundraising was conducted by Gojek in 2014 ago. Openspace Ventures and the Capikris Foundation are the investors. The amount of the injection was not announced.

In 2015, Gojek opened Series B funding. In the Openspace funding round again participated plus Global DST and Sequoia Capital India. The numbers are also not announced.

In 2016 the Series C funding round was carried out with an undisclosed value. Rakuten Investors, Openspace Ventures.

Still in 2016, Gojek launched a Series D fund search with a value of more than US $ 550 million. Some of its investors are DST Global, Northstar Group, Farallon Capital Management, Kohlberg Kravis Roberts, & Co., Warburg Pincus and Formation Group.

At the beginning of 2018, Gojek conducted a Series E fund collection with a total fund collected of US $ 1.5 billion. Investors who join are Via ID, Tencent Holdings, Temasek Holdings, Astra International, Meituan-Dianping, JD.com, Google to Blibli.

At the beginning of 2019, Gojek held the first phase of F Series fundraising. The total funds collected are US $ 1 billion. Rows of investors are Astra International, Tencent Holdings, JD.com and Google.

Reference:
cnbcindonesia.com

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