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 Go-Jek Indonesia, in another sign that the e-commerce firm is tapping growth in Southeast Asian services.

Tech2 News Staff|Aug 25, 2017, 21:05:06 IST

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.[caption id="attachment_3974699" align="alignleft" width="380"] Reuters

Reuters[/caption]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

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