Telkomsel eyes additional $300m investment in Indonesian ride-hailing giant Gojek

Photo: Telkomsel

Telkomsel, a unit of Indonesia’s largest telecom operator Telkom, is eying a $300 million investment in ride-hailing and payments firm Gojek, its president director told Reuters on Thursday.

The move follows a previous $150 million investment by Telkomsel in Gojek in November 2020. “Telkomsel has the option to invest up to $450 million in Gojek within one year from the first investment,” said its president director Setyanto Hantoro.

“We are working to examine whether to exercise the $300 million option more quickly than that, after seeing positive results from the collaborations the two firms have carried out together since early 2021.”

Gojek declined to comment.

Reuters reported in early April, citing sources, that Gojek is close to sealing a proposed merger with e-commerce platform Tokopedia that would result in a new entity called GoTo.

The $18 billion deal would create a technology powerhouse offering online shopping, courier services, ride-hailing, food delivery and other services in Southeast Asia’s largest economy.

A source with knowledge of the matter said the Telkomsel additional investment would make it one of GoTo’s top eight investors, along with firms such as Alphabet’s Google, Alibaba, and Softbank.

Reuters

Singapore Reporter/s

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

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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.