JAKARTA. Domestic online transportation business becomes more attractive for investors. Amid the tight competition between service providers, investors inject significant amount of funds in order to win the competition. Recently, a group of investors led by Japanese SoftBank Group poured US$750 million of funds to Grab, an online transportation service provider. Previously, Grab’s competitor PT Gojek Indonesia has accepted US$550 million of investment. Chief Executive Officer of Grab Anthony Tan ensured that most of the investment will be allocated to expand business in Indonesia. However, Anthony declined to specify the amount of funds will be allocated to Grab’s business in Indonesia.
Online transportation race becomes tighter
JAKARTA. Domestic online transportation business becomes more attractive for investors. Amid the tight competition between service providers, investors inject significant amount of funds in order to win the competition. Recently, a group of investors led by Japanese SoftBank Group poured US$750 million of funds to Grab, an online transportation service provider. Previously, Grab’s competitor PT Gojek Indonesia has accepted US$550 million of investment. Chief Executive Officer of Grab Anthony Tan ensured that most of the investment will be allocated to expand business in Indonesia. However, Anthony declined to specify the amount of funds will be allocated to Grab’s business in Indonesia.
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