Asia-headquartered corporate investors are looking to divest stakes in ride hailing services Didi Chuxing and Gojek, the Financial Times reported yesterday.
Indonesia-based Gojek operates an on-demand ride platform as well as a range of mobile services. It had raised almost $3bn in its latest round, as of a $1.2bn investment from undisclosed backers earlier this month, boosting its overall funding to nearly $5bn.
The corporate venturing subsidiary of an undisclosed Asian business is looking to sell a stake in Gojek for $50m to $100m through a secondary market deal, according to two people with direct knowledge of the offer.
Conglomerates Mitsubishi Corporation and Astra International, financial services firm Siam Commercial Bank, internet group Tencent, local services platform Meituan Dianping and e-commerce firms Rakuten, Blibli and JD.com could all be potential sellers, as could electronics producer Samsung.
A stake in China-based Didi Chuxing has also been offered to secondary market investors, they told the FT. Reports last week suggested it was close to raising $300m from backers including telecommunications and internet group SoftBank.
However, SoftBank is also reportedly set to divest some $41bn in assets and its stakes in high-valued startups could make up some of that fundraising. Didi was valued at $62bn as of a $600m investment by carmaker Toyota in July 2019 that took its total financing to $18.3bn.
The company’s other corporate investors include Tencent, e-commerce group Alibaba and its Ant Financial affiliate, internet company Sina Weibo and insurers Ping An and China Life, in addition to the US-based Apple and Booking Holdings.
