Today’s Deals – Indonesia’s Go-Jek raises $550 million to battle Uber and Grab

Thomas Crown Companies , 0 Comment

Go-Jek Indonesia Pt. motorcycle taxi riders drive along a street in Jakarta, Indonesia on Monday, March 21, 2016. The Jakarta-based startup has already become a household name in its home country. The startup's app has been downloaded more than 11 million times and it has more than 200,000 motorbikes. Its name is a play on ojek, the Indonesian word for the motorcycle taxis that crisscross Southeast Asia's most populous nation. Photographer: Dimas Ardian/Bloomberg via Getty Images Go-Jek, the motorbike taxi on-demand service that rivals Uber and Grab in Indonesia, has raised $550 million in new funding today, a source close to the company told TechCrunch. The deal values the company at $1.2 billion and will be announced this week, we understand. Read More

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