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Facebook, PayPal join list of Gojek’s high-profile investors

first_imgTechnology giant Gojek has announced that American tech companies Facebook and PayPal have invested an undisclosed amount in its new round of funding, joining other high-profile global corporations such as Google and Tencent.The funds would be used to focus on increasing digital economic growth in Southeast Asia, especially payment and financial services inclusion for small and medium enterprises (SMEs), said the decacorn, which means the company is valued at more than US$10 billion.“The COVID-19 pandemic has taught us that a resilient economy requires support from reliable digital infrastructure,” said Gojek’s co-CEO Andre Soelistyo in a statement on Wednesday. “With this collaboration, we will continue to speed up digital economy inclusion, especially when the majority of SMEs in Southeast Asia still rely on cash transactions.” Gojek is the first Indonesian company to receive an investment from Facebook, with the social media company looking to create opportunities for businesses in Indonesia through its instant messaging service, WhatsApp.“Gojek, WhatsApp and Facebook are important services in Indonesia. Through this cooperation, we can help millions of SMEs and their customers to join the largest digital economy community in Southeast Asia,” said WhatsApp chief operating officer Matt Idema.Facebook has been on a mission to widen the market for its digital payment services, as the company talked with several e-wallet companies in Indonesia.Meanwhile, Gojek has agreed to integrate PayPal into Gojek’s payment system, GoPay, giving GoPay users access to the PayPal network of 25 million merchants worldwide. PayPal head of corporate development and ventures for APAC Farhad Maleki said that Southeast Asia was at a very crucial point in the process of digital adoption, which could create new opportunities to provide financial services to unbanked consumers.“We are very excited about entering into a strategic relationship with Gojek to expand access and provide new experiences for our users in this very dynamic market,” he said.While Facebook and PayPal had only recently invested in Gojek, Google and Tencent have been investors since 2018.“Gojek has been active in supporting financial inclusion for SMEs, and we are proud to strengthen our collaboration through additional investments,” said Jeffrey Li, vice president of Tencent Holdings and managing partner of Tencent Investment.Gojek has raised a combined total of Rp 14.5 billion in fresh capital injection from seven investors this year.center_img Topics :last_img read more

World Test rankings … Windies remain rooted at eighth after annual update

first_imgDUBAI, United Arab Emirates (CMC) – West Indies remained rooted at eighth in the World Test Rankings released yesterday following the annual update in which series results from 2013 to 14 are no longer included and outcomes from the 2015-16 series are weighted at 50 per cent.The Jason Holder-led side have gained five points in the period under review and now have a total of 75, trailing sixth-placed Sri Lanka by 16 points and ahead of ninth-placed Bangladesh by six points.West Indies lost their last three Test series against India last year on home soil, followed by Pakistan last year in the United Arab Emirates and the recently-concluded series on home soil. Out of the 10 matches, West Indies registered wins in two matches, lost six and drew two.India have retained the No.1 Test ranking, leading South Africa by six points, but only nine points separate third-ranked Australia from seventh-ranked Sri Lanka.India has moved to 123 points after gaining one point. Second-ranked South Africa however, now have the table-toppers firmly within their sights after vaulting from 109 points to 117 points. This jump means the pre-update gap of 13 points has now been trimmed to just six points.While India and South Africa have made upward movements, Australia, England and Pakistan have headed in the opposite direction.Australia have retained their third place, but have plummeted from 108 points to 100 points; England have stayed in fourth position, but have slipped to 99 points after conceding two points;while Pakistan have dropped behind New Zealand in sixth place after conceding four points to sit on 93 points.last_img read more