Facebook invests in Indonesian firm Gojek, but won’t disclose stake

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Gojek drivers wait for passengers in Indonesia.

afif c. kusuma | IStock Editorial | Getty Images

Facebook has invested in Gojek, an Indonesian food transport and delivery company.

The US tech giant was unwilling to disclose the size of his investment when contacted by CNBC, but Facebook said in a blog Tuesday night that it highlighted the company’s efforts to help bring in online small business.

“This investment will support Facebook and Gojek’s common goal of empowering businesses and fostering financial inclusion across the archipelago,” said Matt Idema, director of operations for WhatsApp, in the blog.

“WhatsApp helps small businesses connect with customers and make sales, and with Gojek, we believe we can attract millions of people to Indonesia’s growing digital economy,” said Idema.

Gojek also declined to disclose the size of the investment.

The investment in Gojek follows a $ 5.7 billion investment that Facebook made in April to Jio Platforms in India – the digital subsidiary of the Indian conglomerate Reliance Industries, owned by billionaire Mukesh Ambani.

The investment gave the social network a 9.99% stake in Jio Platforms for a pre-silver enterprise value of $ 65.95 billion.

India and Indonesia have large connecting populations. They represent a precious opportunity for global technology companies like Facebook to develop their commercial services for micro, small and medium-sized businesses, in particular via the popular messaging service WhatsApp.

Gojek already has a number of leading donors, including Google and Singaporean state investor Temasek. The Indonesian start-up has a valuation of $ 10 billion, according to CB Insights. He raised $ 1.2 billion in fresh funds in March, reports said.

The company competes with Grab, headquartered in Singapore, Southeast Asia, in areas such as public transit, payments and food delivery. The two companies say they aim to become the region’s most popular “super app” – where multiple services are bundled into a single app.

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