Former gojek CEO Nadiem Makarim at the Blue Bird and gojek partnership announcement event in 2017
Indonesian ride-hailing giant gojek is nearing an agreement to buy five per cent of local taxi operator Blue Bird, Bloomberg reported.
Citing people familiar with the matter, gojek is set to pay US$30 million.
“That implies a price of more than 20 per cent above what Blue Bird closed at in Jakarta on Monday and would value the company at about US$600 million,” the report stated.
While gojek spokesperson said they will not comment on market speculation, a Blue Bird representative did not respond to queries for comments immediately.
Also Read: Indonesian consumers can now book a Blue Bird taxi via Go-Jek application
The partnership between gojek and Blue Bird came with a long history of competition and reconciliation.
When gojek first took its claim to fame in the Indonesian market, it was met with protests by taxi drivers who believe that the service threatened their livelihood.
But in March 2017, the two companies announced a partnership that would see Blue Bird service being available on the gojek platform.
More on this story as it develops.
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