Facebook, PayPal invest in Indonesia’s ride-hailing firm Gojek

Team Udayavani, Jun 4, 2020, 2:05 PM IST

Facebook and PayPal have invested in Gojek, Indonesian ride-hailing and digital payment startup.

Earlier, Google and Tencent had invested in the five-year-old Southeast Asian ride-hailing startup that also offers food delivery and mobile payments.

However, Facebook and Paypal did not disclose the size of their investments. But, it is estimated to be over $3 billion.

Matt Idema, WhatsApp’s chief operating officer, said, “This investment will support Facebook and Gojek’s shared goal of empowering businesses and driving financial inclusion across the archipelago. WhatsApp helps small businesses communicate with customers and make sales, and together with Gojek, we believe we can bring millions of people into Indonesia’s growing digital economy”

Andre Soelistyo, Gojek co-CEO, said, “By working together, we have the opportunity to achieve something truly unique as we aim to help more businesses to digitise and ensure that many millions more consumers are enjoying the benefits that the digital economy can bring,”

Also, Gojek’s collaboration with PayPal would allow users of its digital wallet, GoPay.