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Riku Tanaka
in
Finance
February 18 17:32

Gojek purchases minority stake in Indonesian taxi firm Blue Bird

Gojek has invested US$30 million to acquire a 4.3% stake in Blue Bird, which is among the top ride-hailing firms in Indonesia, as indicated by Bloomberg, which originally wrote about the deal-in-progress in January.
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The ride hailing firm’s holding organization revealed in a regulatory advisory board submission that it had sold 108 million Blue Bird shares at 3,800 rupiahs each, which equates to roughly US$0.28 per share, to an unnamed firm. Given the fact that Gojek had previously made bookings for Blue Bird taxis available on its all-encompassing app, the stake acquisition only brought the two companies’ previously ambiguous relationship closer.


Gojek's mobile "super-application," was given this title due to the plethora of services that are offered on it, such as immediate request fulfillment for transport and deliveries, an digital wallet, video streaming as well as more obscure services such as home cleaning. The super-app  is the worthy competitor to Grab, which reported in summer of 2019 that the company is planning will utilize US$2 billion investment it received from SoftBank to expand its Indonesian transportation framework and businesses.
While both Grab and Gojek operate in a various markets at the same time, the latter is the industry leader in Indonesia.