Gojek is reportedly buying 5% of taxi operator Blue Bird 🔒

www.bloomberg.com

The company is said to be paying $30M for the stake, around a 20% premium on its stock price -- giving Blue Bird a valuation of $600M. Blue Bird and Gojek have been partners for a few years, their union got Gojek into licensed taxis to rival Grab. I'm curious whether this is to stoke up nationalism in the battle against Grab, or something more strategic. Either way, Gojek's approach to M&A is very different to Grab, which hasn't done many deals. Gojek has over a dozen investments and acquisitions, off the top of my head.

Related: Gojek is said to be close to buying payment startup Moka for $150M link 🔒

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