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President Joko Widodo holds a meeting with SoftBank's CEO Masayoshi Son, Tokopedia’s Founder William Tanuwijaya and Grab’s representative Anthony Tan and Ridzki Kramadibrata at Jakarta’s Merdeka Palace (29/07/19) (Image credit: Tempo)
SoftBank plans to invest $2 billion in Indonesia via Grab
On Monday, the Southeast Asian’s unicorn ride-hailing startup Grab has announced the investment worth $2 billion from Japanese company SoftBank will be invested in Indonesia for over years.According to Grab, in addition, to pushing the digitization of major services and infrastructures, Softbank will give fund value US$2 billion to Indonesia through Grab. With this investment, the Japanese company aims to boost its exposure to the Southeast Asian market.
While Grab will use the investment to develop its services and digital infrastructures by generating a next generation of the transportation network and altering the delivery system of significant services such as healthcare.
According to the CEO of Soft Bank Masayoshi Son, the company will also support Grab to build its second headquarter in Jakarta, Indonesia.
Previously on March, Grab announced a fresh investment from SoftBank Vision Fund worth $1.46 billion for its current funding round. So far, Grab claimed the company has raised approximately $3 billion from SoftBank Vision Fund.
On July 29, President of Indonesia Joko Widodo is reportedly holding a meeting with Chief Executive of SoftBank Masayoshi Son, Tokopedia’s Founder William Tanuwijaya and Grab’s representative Anthony Tan and Ridzki Kramadibrata.
During the meeting, the President and the founders talked over business opportunities and several numbers of collaboration projects. It also reportedly SoftBank wants to join in the circle of Indonesia’s unicorn market.
Source: https://www.reuters.com/article/us-softbank-indonesia-grab/softbank-group-ceo-says-to-invest-2-billion-in-ride-hailing-app-grab-idUSKCN1UO0CC
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