Revealed, a row of personalities become senior officials of Go-Jek

Jakarta – Go-Jek has become one of the most valuable startups in Indonesia. As a unicorn, the value of the online motorcycle taxi company created by Nadiem Makarim has already exceeded 1 billion USD. But even if this is already known, the structure of the company is not yet clear.

A leak reveals the internal structure of Go-Jek, composed of Indonesian citizens and foreigners. A leak of investment consulting firm Momentum Works in the file submitted by Go-Jek at the last fundraiser revealed the composition of Go-Jek's board of directors and board of trustees.

According to Momentum Works information published by Deal Street Asia, Go-Jek's founder and CEO, Nadiem Makarim, has been integrated into the membership of Go-Jek's board of directors. He also holds 4.81% of the total shares of Go-Jek with a total of 58,416 shares.

Another Go-Jek founder, Kevin Aluwi, who also serves as director of information technology, is also included in the composition of the board of directors. He has 205 shares.

Go-Jek's other directors are André Soelistyo, Antoine de Carbonnel, Hans Patuwo, Monica Lynn Mulyanto and Thomas Kristian Husted. Antoine de Carbonnel is the commercial director and André Soelistyo, the president Go-Jek.

Commission of Commissioners Go-Jek

In a leak from Momentum Works, Nadiem Makarim also became chairman of the board of Go-Jek commissioners. The total is 9 members on the Council of Commissioners. They become the representatives of investors who invest their funds in Go-Jek.

In addition to Nadiem, another member of the Go-Jek Council of Commissioners was Jeffrey Perlman as General Manager, Head of Southeast Asia, Warburg Pincus, then George Raymond Zage III of Farallon Capital Asia, and then Hotak Chow as the main group of capital and Kusumo Martanto. is the CEO of BliBli.com and Chief Operating Officer of GDP Venture and Zhaohui (Jeffrey) Li of Tencent Investment.

Then there was Pandu Patria Sjahrir as director of Toba Bara, then Pradyumna Agrawal, who was director of Temasek, and finally Prijono Sugiarto as managing director of Astra International.

Some of the companies mentioned have been reported as Go-Jek investors. Suffice to mention Astra and PT Global Digital Niaga, who also oversees Blibli, are known to have participated in the sale of their capital to Go-Jek this year.

A brief history of Go-Jek's investment

According to the Crunchbase established by CNBC Indonesia, Go-Jek's initial investor is the Northstar Group. The Singapore-based private equity firm is working with its venture capital firm, NSI Venture, and several investors are injecting funds of $ 2 million or equivalent to Rp 26.8 billion.

In 2015, Go-Jek was again injected but no funds were obtained. The funders come from NSI Venture, Sequoia Capital, Global Digital Sky Technologies (DST).

A year later, the list of foreign investors entering Go-Jek was lengthening. A consortium of investors led by Warburg Pincus and KKR & Co. that has injected funds of 550 million USD (7.37 billion Rp). This includes Formation Group, Farallon Capital Management, Capital Group and Rakuten.

Then, in 2017, a consortium of investors led by Tencent Holdings injected funds of 1.2 billion US dollars (16,800 billion rupees). Besides Tencent, there are also Temasek Holdings, Meituan-Dianping, JD.com and Google.

Go-Jek used the capital injection to develop various services. And to support its expansion efforts in Southeast Asia, with Vietnam, Thailand and Singapore ranked first among countries. (fyk / krs)