Telkomsel, Indonesia's largest telecommunications network, has invested $ 150 million in ride-hailing company Gojek, the two companies said on Tuesday.
As part of the "strategic partnership", the two companies said they will explore a "wide range of collaboration opportunities" to reach millions of Indonesians. Since 2018, Gojek and Telkomsel have maintained an agreement to subsidize the cost of mobile data consumed by the taxi company's driver partners.
With over 170 million subscribers, Telkomsel is the largest telecommunications operator in Indonesia. In addition to ride-hailing, Gojek has expanded to several other businesses, including digital payments and food delivery in Indonesia.
The company, which has raised over $ 3 billion to date and was valued at around $ 10 billion earlier this year, is backed by some of the biggest names in technology including Facebook, Google, PayPal, and Tencent. Gojek, which also serves around 170 million users, competes with the same heavily backed company, Grab, which is reportedly in talks to raise an additional $ 3 billion from Alibaba.
Additionally, the two loss-making giants have, according to several reports, renewed talks for a merger in recent months amid the pandemic in a move that could theoretically help them achieve profitability. Both companies declined to comment on these alleged merger talks.
"This is a great day for Gojek and for Indonesia as we strengthen our partnership with Telkomsel, one of Indonesia's most forward-thinking telecommunications companies. By working together, we hope to help Indonesia become a true digital powerhouse in Southeast Asia and bring the benefits of the digital economy to millions of additional consumers, driver-partners and small businesses, "said the co-chief executive. by Gojek Andre Soelistyo in a statement today.
