China's JD.com invests in Indonesia's Go-Jek as its Southeast Asian push continues

JD.com Inc has invested in ride-hailing startup PT Go-Jek Indonesia, in another sign that China’s second-largest e-commerce firm is tapping growth in Southeast Asian mobile-based services, people familiar with the matter told Reuters.

Reuters

Reuters

Go-Jek, whose investors include global private equity firms KKR & Co LP and Warburg Pincus LLC as well as venture capitalist Sequoia Capital, has raised about $100 million from JD.com, one of the people said.

The startup is raising up to $1 billion from existing and new investors in its latest funding round and has a pre-money valuation of about $2.5 billion, the person said.

The people declined to be identified as the financing plans are not public. JD.com declined to comment. Go-Jek did not immediately respond to a request for comment.

This report comes a day after JD.com said it has reached a deal to sell goods through the popular browser, search engine and app store of Qihoo 360 Technology Co Ltd, as China's second-biggest e-commerce firm seeks new ways of attracting users.

JD said it will share data with Qihoo 360 in a similar vein to partnerships with Tencent Holding Ltd, Baidu Inc and news feed app Toutiao, as it broadens sales channels to compete with Alibaba Group Holding Ltd.

With inputs from Reuters


Published Date: Aug 25, 2017 09:05 pm | Updated Date: Aug 25, 2017 09:05 pm