Facebook and PayPal Invest in Indonesia Ride-hailing Company Gojek

Wall Street learned this week that social media giant Facebook as well as worldwide online payments system operator PayPal, have invested in Indonesian ride-hailing and food delivery company Gojek.

Facebook revealed in a blog post this week that it underscores its efforts to help bring small businesses online and that PayPal has also participated in its current funding round.

The company and Gojek both declined to disclose the size of Facebook’s investment.

“This investment will support Facebook and Gojek’s shared goal of empowering businesses and driving financial inclusion across the archipelago,” Matt Idema, WhatsApp’s chief operating officer, wrote.
“WhatsApp helps small businesses communicate with customers and make sales, and together with Gojek, we believe we can bring millions of people into Indonesia’s growing digital economy,” Idema said.

“By working together, we have the opportunity to achieve something truly unique as we aim to help more businesses to digitise and ensure that many millions more consumers are enjoying the benefits that the digital economy can bring,” Gojek co-CEO Andre Soelistyo said in a statement.

Gojek said the collaboration with PayPal would allow users of its digital wallet, GoPay, to access the U.S. firm’s network of more than 25 million merchants worldwide.

Gojek is also being backed by Google, Temasek and Chinese tech giant Tencent. The Indonesian start-up has a valuation of $10 billion, according to CB Insights.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.