Golden Gate leads funding round for Gojek streaming service

The parent firm announced the investment in a statement. It did not disclose the amount of capital committed. Other investors that took part in the round include ZWC Partners, Openspace Ventures, Indonesian media venture capital firm Ideosource Entertainment and US-headquartered family office Redbadge Pacific. 

Established in September last year, GoPlay offers Indonesian internet users access to local movies and television shows with subscriptions that can be purchased separately or as part of a bundle that includes other services offered by Gojek. GoPlay CEO Edy Sulistyo told Singapore's Business Times that it would use the funding to initially develop video-based entertainment content for an Indonesian market. Sulistyo previously headed LOKET, an online ticketing service, that was acquired by Gojek in 2017. He is chairman of the entertainment division within Gojek. 

"Golden Gate Ventures has been closely monitoring this space before COVID-19, but now with the lockdowns, it's really accelerated our predictions of users wanting more localised mobile content. The traditional media and cable television companies may produce local content, but it's not being watched by 20-somethings and millennials; there's a huge opportunity to fill this. And GoPlay gets the network benefits of being within the Gojek ecosystem," said Vinnie Lauria, GGV managing partner, according to the Business Times. 

According to Statista, companies that offer video content services in the country apart from multinational players like Netflix include Malaysia's iflix, Viu and Hoo. Google-owned YouTube is the most popular video streaming platform in the country. 

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• Topics
• Southeast Asia
• Early-stage
• Media
• Indonesia
• Golden Gate Ventures
• Openspace Ventures