Go-Jek Joins Grab in the $10 Billion Market-Valuation Club

Written by: admin on April 8, 2019

With $10 Billion in Valuation, Go-Jek Becomes Indonesia's First 'Decacorn'

US market intelligence firm CB Insights has listed Indonesian ride-hailing service, Go-Jek, among 19 companies around the world that have a valuation at $10 billion or known as ‘decacorns’. Go-Jek is the second company in Southeast Asia that joins the $10 billion market-valuation club after its rival Grab.

When asked about its IPO plans, Go-Jek’s Chief of Corporate Affairs confirms that an IPO remains the company’s long-term aim but it is not in its immediate future.  The current focus will be to grow the business in existing countries.

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Amazon Web Services Invests in the Launch of Three Data Centers in Jakarta by 2022

Amazon Web Services (AWS), a business arm of Amazon, announces the construction of its first cloud region in Jakarta, Indonesia. The cloud region comprises of three data centers in Jakarta which forecasted to be operational by late 2021 or early 2022.

The construction is projected to increase AWS’ presence in the country and support a fast-growing ecosystem of startups, large companies, and government agencies. More jobs in the tech sector are also expected to happen with the arrival of cloud region.

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Grab's CEO Expects to Raise Another $2 Billion after Securing Over $4.5 Billion Weeks Ago

Anthony Tan, Chief Executive Officer of Grab says that the company is expecting to raise $6.5 billion of total capital this year. Already raised  $4.5 billion weeks ago, Grab needs an additional $2 billion in funding to achieve the goal.  Grab is also looking to make at least six investments or acquisitions this year,

The funding, which will be a mix of debt and equity, will help Grab to expand its business in financial services and food delivery.

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Online Marketplace 'Dei' Launched to Help Retailers in Singapore's Little India Sell Online

Dei partners with brick-and-mortar merchants and retailers in Singapore’s Little India to provide on-demand grocery services to customers in the country. Currently, the online marketplace already has 70 partners and lists over 15,000 products on its platform.

The company aims to bring all merchants in the district on board, and expand to include other precincts in Singapore such as Chinatown and Kampong Glam. It is set to compete with online grocery platforms with the likes of Honestbee and Lazada’s RedMart.

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Land Transport Authority Grants Two Bike-Sharing Startups Licenses to Operate in Singapore

Anywheel and Moov are the two out of three bike-sharing operators that have been granted in-principle approval for licenses to operate dockless bike-sharing services in public places. Anywheel is permitted to operate with up to 10,000 bicycles while Moove, with a sandbox license, is granted with up to 1,000 bicycles.

The third applicant, Ywise Circle, was not successful in its application as it did not meet the evaluation criteria.

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