World's Largest Investment Company BlackRock Called Involved in Funding for Go-Jek

Go-Jek is back in the news after Reuters mention that in the funding round worth a total of $1,5 billion (more than the initial target of $1,2 billion) that is currently being pursued, the name BlackRock appears which is the largest investment company in the world. Go-Jek's valuation is said to have now reached $ 5 billion (around 68 trillion Rupiah) and is getting closer to the valuation of its closest competitor, Grab.

In the last month, Google, Astra Internationaland Blibli (Global Digital Commerce) ensure that it invests in Go-Jek. Now BlackRock is said to be participating in this Indonesian on-demand service. In addition to these three companies, Tencent, JD.com, Meituan-Dianping, and Temasek also participated in this funding.

It is not stated how much BlackRock disbursed for Go-Jek, but a Reuters source said the value reached $100 million (more than 1,3 trillion Rupiah). BlackRock is the world's largest managed fund investment company with total assets of $6,28 trillion (almost 86 thousand trillion Rupiah) as of December 2017. BlackRock's assets are said to be bigger than any bank in the world.

Interestingly, BlackRock's record investment shows it has invested in Uber for years 2014 and DiDi in year 2016. This means that they strongly believe that on-demand businesses, especially in the transportation sector, will show high returns with long-term prospects.

Go-Jek itself this year will launch a massive campaign for the use of payment platforms Go-Pay and plans to expand to neighboring countries, starting from Filipina.