Investment

WhatsApp, PayPal invest in Indonesian super app Gojek – Reuters Canada

Published

4 years ago

June 3, 2020

SINGAPORE (Reuters) – Facebook Inc (FB.O) messaging platform WhatsApp and Paypal Holdings Inc (PYPL.O) on Wednesday said they have invested in payment and ride-hailing firm Gojek as part of the Indonesian firm’s ongoing fundraising round.

WhatsApp and Paypal did not disclose the size of the investment or the stakes they would receive.

WhatsApp Chief Operations Officer Matt Idema in a blog post said the messaging platform would work with Gojek “to support the growth of millions of small businesses”.

Paypal said in a statement that its payment capabilities would be integrated into Gojek’s services.

Reuters reported in April that Facebook was in talks with Gojek about an investment and was working with three e-wallet operators in Indonesia, including Gojek’s GoPay, to launch mobile payment services in Southeast Asia’s largest economy.

The same month, WhatsApp invested $5.7 billion in the digital arm of India’s Reliance Industries Ltd (RELI.NS).

Gojek was founded in 2010 as a ride-hailing firm and has since evolved into a one-stop app through which users can make online payments and order food and services. It is active in four markets and owns an e-wallet startup in the Philippines.

The firm is valued at $10 billion, sources have said. It closed a $1.2 billion funding round in March, showed to an internal memo reviewed by Reuters.

“With Facebook and WhatsApp being the dominant social and messaging platforms in Indonesia, this investment cements Gojek’s position as the leading super app for more than 300 million people,” said Hian Goh, partner at Openspace Ventures, which lead Gojek’s series A funding round in 2014.

Indonesia is one of WhatsApp’s five biggest markets, with over 100 million users.

Reporting by Fanny Potkin; Editing by Himani Sarkar and Christopher Cushing

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

2 hours ago

October 11, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

1 day ago

October 10, 2024

Anne Joseph

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite up more than 100 points, U.S. stocks also trade higher

Published

2 days ago

October 9, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in the technology and base meta sectors, while U.S. stock markets also climbed higher.

The S&P/TSX composite index was up 106.70 points at 24,179.21.

In New York, the Dow Jones industrial average was up 280.87 points at 42,361.24. The S&P 500 index was up 26.51 points at 5,777.64, while the Nasdaq composite was up 69.52 points at 18,252.44.

The Canadian dollar traded for 73.08 cents US compared with 73.22 cents US on Tuesday.

The November crude oil contract was down 67 cents at US$72.90 per barrel and the November natural gas contract was down eight cents at US$2.66 per mmBTU.

The December gold contract was down US$2.30 at US$2,633.10 an ounce and the December copper contract was down five cents at US$4.41 a pound.

This report by The Canadian Press was first published Oct. 9, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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