Indonesia’s bike taxi Go-Jek acquires two tech Indian startups, to set up R&D centre

Visual from the company website

Indonesia-based bike taxi service Go-Jek has acquired two Indian startups–— Bengaluru-based software engineering company C42 Engineering and Delhi-based CodeIgnition, with the aim of setting up a development centre in the country says a report in The Economic Times.

While the financial details of the deal were not disclosed, it is primarily aimed at helping Go-Jek set up a research and development centre in Bengaluru, where it plans to recruit over 100 senior engineers in the next six months.

Sequoia Capital India and DST Global-backed Go-Jek zeroed in on the Indian companies while searching for a solution to a software bug that hit its mobile application.

“We lost control over our growth and then our investor Sequoia extended a helping hand by introducing us to founders of C42 and CodeIgnition, they saved us from imploding,” said Nadiem Makarim, founder of Go-Jek.

Since its launch in January 2015, the company’s mobile application downloads have grown to 11 million, making it the largest consumer-internet company in Indonesia on parameters like number of transactions, funding raised and valuation, says Makarim.

Go-Jek started off as a a bike-taxi business, and has diversified into food delivery, one-hour courier delivery, grocery delivery and even has aggregated trucks on its platform.

“We have more vehicles than Uber has in the US, and we are the largest online food delivery company outside the US and China,” said Makarim.

“We are all online and offline businesses rolled up into one, which is unlike India and China where things are fairly specialised,” said Makarim, adding that Go-Jek is a mix of Ola, Zomato, TinyOwl, Grofers and few other startups rolled into one given the cross selling opportunities.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.