Indonesian conglomerate Astra invests US$150 million in ride-hailing app Go-Jek

JAKARTA (The Jakarta Post/ANN) -  Indonesian conglomerate Astra invests US$150 million in Go-Jek.

PT Astra International has invested US$150 million in ride-hailing app Go-Jek, Astra president director Prijono Sugiarto said at a press conference in Jakarta on Monday.

He said Astra was highly impressed by Go-Jek’s effort to keep on innovating.

“I felt very proud when I read Fortune’s “Change the World” list and saw Go-Jek’s name there,” Prijono said, referring to the list of influential companies compiled by Fortune in 2017.

Go-Jek founder and CEO Nadiem Makarim said the investment from Astra was the largest the company had ever received.

“With this fund, our company will be able to create more innovations and make Indonesia a powerful country in Southeast Asia and the world,” he said.

Nadiem further explained that the partnership between Astra and Go-Jek will involve vehicle supply and financing.

Google announced through its blog on www.blog.google that it had invested in Go-Jek on Jan. 29.

Although the website did not specify the investment amount, two sources have told Reuters that Google was investing about $100 million in the company.

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