Ride-hailing

Gojek CEO’s departure may disrupt fundraising plans

The jump by the Indonesian ride-hailing unicorn’s co-founder and CEO into politics may upset investors. Nadiem Makarim's timing is inopportune given that Gojek is mid-fundraise for its domestic and international operations.

In a surprise move, Nadiem Makarim has resigned from his position as chief executive officer of Gojek to launch his political career, a decision that could dent investors’ support for the Indonesian ride-hailing unicorn.

Makarim has accepted a ministerial post in Indonesian president Joko Widodo’s government, Gojek said on Monday. Widodo is pulling together a cabinet for his second term in government.

Gojek is a $10 billion leviathan gearing up for the largest initial public offering of shares that Indonesia has seen in at least a decade, maybe ever. Now a household name, the firm has grown into the country’s largest private sector employer and...

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