Davis Polk & Wardwell and Allen & Overy's Ginting & Reksodiputro are advising Indonesian payment, food delivery and ride-hailing app operator Gojek on investments from Facebook’s messaging app WhatsApp and PayPal with Freshfields Bruckhaus Deringer representing the latter.
The deal is a part of the Indonesian firm’s ongoing fundraising round, which previously saw investments Google and Tencent.
Gojek was founded in 2010 as a ride-hailing firm and has since evolved into a one-stop app through which users can make online payments and order food and services, according to Reuters.
Reuters added that based on a regulatory filing, Facebook now owns now owns a 2.4 percent stake in Gojek’s fintech arm, while PayPal owns 0.6 percent of GoPay.
The move is expected to help Facebook and WhatsApp tap into Indonesia’s fast-growing e-commerce sector. The deal comes shortly after Facebook’s $5.7 billion investment in the digital arm of India’s Reliance Industries, according to Reuters.
The Davis Polk team was led by partner Miranda So.
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