Facebook invests in Indonesia's ride-hailing firm Gojek but doesn't reveal its stake

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Facebook did not disclose the size of its investment but said in a blog post on Tuesday evening that the investment underscores its efforts to help bring small businesses online.

The U.S. tech giant did not disclose the size of its investment but said in a blog post on Tuesday evening that it underscores Facebook's efforts to help bring small businesses online.

"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, said"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.

That investment gave the social network a 9.99% stake in Jio Platforms at a pre-money enterprise value of $65.95 billion. Both India and Indonesia have large populations that are coming online. They present a valuable opportunity for global tech companies like Facebook to build out their commercial services to micro, small and medium-sized businesses, particularly through the popular messaging service WhatsApp.and Singapore state investor Temasek. The Indonesian start-up

Source: News Formal (newsformal.com)

 

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