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Uber/Lyft Startups Asia

Google-Backed Ride-Hailing Startup Go-Jek Valued at Over $9 Billion

Google and Chinese giants Tencent and are doubling down on Indonesia’s Go-Jek in an investment round that could nearly double the ride-hailing startup’s valuation to more than $9 billion, people familiar with the matter said.

In Southeast Asia, home to 600 million people and one of the world’s fastest-growing internet markets, Go-Jek is competing against bigger rival Grab, a Singapore-based company backed by both SoftBank and Chinese ride-hailing giant Didi Chuxing.