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.
The Lippo and Grab-backed startup, last valued at about $2.9 billion, is riding Indonesia’s cashless payments wave to bring merchants and financial institutions timely consumer insights. Ovo’s CEO Jason Thompson sees a fresh fundraising drive next year to support growth.
Business-to-consumer ecosystems could turbo-charge the growth of insurance in Asia. Trouble is, partnerships often fizzle out due to insurers’ old-fashioned wiring and inflexible cultures. Time for a reboot.
Following a year of mega IPO flops, Chinese VC investment plummeted in the second quarter as private investors baulked at spiralling valuations. Staying private for longer will no longer be so easy for entrepreneurs.