Go-Jek’s VC arm Go-Ventures said to have invested in Indonesian media startup Kumparan

Nadiem Makarim, founder of the Indonesian ride-hailing and online payment firm Go-Jek poses for a photograph following an interview with Reuters at the Go-Jek offices in Jakarta, Indonesia, August 15, 2018. REUTERS/Darren Whiteside

Go-Ventures, the venture capital arm of Indonesian ride-hailing Go-Jek, has invested in local media startup Kumparan, according to industry sources.

In what seems to be a confirmation of the deal, Kumparan President Commissioner Budiono Darsono announced on his Facebook page on Wednesday that Go-Jek President Andre Soelistyo (Go-Jek’s President) has joined as a new member of the media’s board of commissioners as of September 2018.

However, according to sources the “sizeable” deal happened over a month ago. On August 30, DEALSTREETASIA asked Go-Jek for confirmation on the deal, but the company has yet to respond.

This portal first reported in May about Go-Jek’s expansion into the VC space through Go-Ventures. Since then, Go-Jek Founder and CEO Nadiem Makarim has confirmed the report. It is understood that Go-Ventures looks to invest in startups that will support the unicorn’s growth.

In Kumparan, Go-Ventures is betting on a startup that claims to be Indonesia’s first hybrid online news site that combines online news with social media concepts. This concept allows users to be news providers.

On its platform, users can write articles, or create videos, and follow other users’ profiles within the platform. Stories are presented in feeds and timelines just like other social media platforms.

Kumparan is backed by GDP Venture, the venture capital affiliate of conglomerate Djarum group. The VC firm is also an investor in Go-Jek after participating in the ride-hailing company’s recent $1.5 billion round through its subsidiary PT Global Digital Niaga (GDN).

The investment in Kumparan could see Go-Jek roll out a news feature, similar to Grab’s GrabDaily, which curates news content from various local news portals.

Go-Jek has recently started to include more fun content into its app such as a trivia polls, funny tips and trick content, as well as a prophecy feature into its apps. The in-app contents, however, are still dominated by reviews and stories about Go-Jek services, drivers and merchants.

It had been previously reported that Go-Jek is also looking to enter the online content business by launching a content service called Go-Play, as well as set up Go-Studios to facilitate the production of content such as documentaries, feature films and short films.

Also Read:

Exclusive: Go-Jek said to have entered VC space with Go-Ventures

Indonesia’s stock exchange to launch technology platform, eyes Go-Jek IPO

GDP Venture backs Indonesian media startup Kumparan

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.