Gojek Reportedly Nearing a Deal to Acquire 5% of Blue Bird Worth of 420 Billion Rupiah
Both companies are in partnership since 2016
Randi Eka - 17 December 2019
Gojek is to acquire 5% shares of PT Blue Bird Tbk (Blue Bird). They’re to spend about $30 million or 420 billion Rupiah, it goes higher considering the company’s market capitalization in the closing stock exchange per Monday (12/16) at 6.8 trillion Rupiah.
The news was first published by Bloomberg. According to a source, the deal was built on the previous partnership, since 2016. As publicly known, the taxi operator Blue Bird is also available to order via Gojek application, through the Go-Blue Bird feature.
The company’s move is believed to be in line with the business strategy to continue leading the market amid intense competition with its rival, Grab. Gojek has also applied the strategic partnerships with local transportation companies in Singapore. In November 2019 they announced a strategic partnership with Trans-Cab Services, to accommodate orders for more than 3000 taxi fleets through the application. This service is said to be effective per December 2019.
On the other hand, Gojek is keeping the door for new participants open to the Series F funding round. Targeting $3 billion, it is reported to have reached $2 billion and to be closed in January 2020. Gojek’s Commissioner, Boy Thohir also mentioned the company’s plan to run IPO.
Having the ambition to be a super app, Gojek keeps expanding its services. It is through the acquisition of some digital startups. The latest one is Moka’s point of sales service, in the finalizing stage acquisition worth of 1.6 trillion Rupiah.
Original article is in Indonesian, translated by Kristin Siagian