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szdaily -> World Economy -> 
Indonesia’s Go-Jek invests in online media startup
    2018-09-10  08:53    Shenzhen Daily

INDONESIAN ride-hailing and online payment company Go-Jek has invested in digital media startup Kumparan as part of its expansion into online content, it said.

Go-Jek, whose backers include Alphabet Inc.’s Google and China’s Tencent Holdings, has grown rapidly since launching eight years ago in Indonesia, a country with a population of more than 250 million people.

The company already offers a wide range of app-based services outside ride-hailing, such as food delivery and movie tickets, as it competes with the other main ride-hailing app operating in Indonesia, Singapore-based Grab, which bought the Southeast Asian business of Uber Technologies this year.

Go-Jek said the investment in Jakarta-based media startup Kumparan had been done through its recently launched venture capital arm Go-Ventures, but did not disclose the size of its funding.

Kumparan is a hybrid news and social media platform that enables users to create content.

Go-Jek is betting heavily on becoming an online multimedia content provider for Indonesia and set up its own in-house studio in 2018 to produce original films, in partnership with local film production houses.

(SD-Agencies)

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