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Amazon in talks for stake in Indonesia's ride-hailing startup Go-Jek - source

Credit: REUTERS/PASCAL ROSSIGNOL

Amazon.com Inc is in early talks with Go-Jek Group to buy a stake in the Indonesian ride-hailing startup, a source familiar with the matter told Reuters on Wednesday.

Adds source, background

Aug 28 (Reuters) - Amazon.com Inc AMZN.O is in early talks with Go-Jek Group to buy a stake in the Indonesian ride-hailing startup, a source familiar with the matter told Reuters on Wednesday.

Details of the stake were not known and the source did not want to be identified as the talks are private.

Both Amazon and Go-Jek did not respond to a Reuters request for comment.

Indonesia's first unicorn, Go-Jek, has up to 20 services and has evolved from ride-sharing to allowing its customers to make online payments and order everything from food to groceries.

Earlier this year, Amazon also bought a stake in British online food delivery company Deliveroo as it competes with Uber Technologies Inc's UBER.N Uber Eats in the global race to dominate the market for takeaway meals. (https://reut.rs/2PirMuE)

Reuters reported in July that Amazon is expanding its transportation prowess to do virtually everything short of building a car. (https://reut.rs/2NC5mln)

Go-Jek, which counts Alphabet Inc's GOOGL.O, Alibaba Group Holdings Inc BABA.N, Tencent Holdings 0700.HK and Visa Inc V.N as investors, last raised funding in July at a valuation of around $10 billion.

The Wall Street Journal first reported about the discussions between Amazon and Go-Jek. (https://on.wsj.com/325ifZa)

(Reporting by Neha Malara in Bengaluru and Anshuman Daga in Singapore; editing by Arun Koyyur)

((Neha.Malara@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 0344;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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