SAN FRANCISCO: Facebook Inc and PayPal Holdings Inc are investing in Gojek, a big boost for the Indonesian start-up’s digital payments business that propels the US companies into a fast-growing Asian internet arena.
The deal announced Wednesday marks Facebook’s first investment in an Indonesian company and is a major boost for the country’s largest start-up, a ride-hailing giant that’s morphed into a provider of services like payments and meal delivery. It’s the largest country in Southeast Asia, anchoring a regional internet economy estimated at more than US$100 billion in 2019 and tripling by 2025.
Gojek has drawn hundreds of thousands of merchants to its platform, providing them with access to more than 170 million users across the region.
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