Indonesia’s GoJek Acquires B’luru Startups, C42 & CodeIgnition

Mangalore Today News Network

Bengaluru, Feb 20, 2016:  As per expert start up news reports, Indonesia’s Go-jek has acquired Bangalore  based startups, C42 And CodeIgnition, with Sequoia playing the go-between role.

 

A co-founder of the organisations (Sidu Ponnappa) is reported to have told the media, "The acquiring company was a consulting client, introduced by Sequoia mid last year. We’d been building their systems for a few months already as consultants, so they knew our capabilities well and were already leaning on us in a big way – our engineering work had contributed to 40x scaling in daily transaction volumes at the time acquisition talks were initiated."

The original plan was to build an R&D centre here in India to be able to hire experienced product folk. After working with the start ups for a few months, Go-jek figured it was much better for the business to acquire the two orgs, as we were already battle tested and had a leadership team in place that had proven it could get things done well, rather than start from scratch. 

Go-jek : Is the largest online business in Indonesia now in the people transport (GO-RIDE), logistics (GO-BOX, GO-SEND), O2O and hyperlocal space (GO-MART), and the fastest growing in the world outside of China – 900x increase in monthly transaction volumes in ~10 months. The company already has the largest food delivery business (GO-FOOD) in SE Asia.

The co-founders (all of whom are veterans of the Bangalore start-up world)  of C42 are taking on the following roles: CTO of Go-Pay, the digital payments business (Ajey Gore, ex CEO CodeIgnition, ex CTO Hoppr.com, ex Head of Tech ThoughtWorks India), Chief Architect (Niranjan Paranjape, ex CTO C42, ex ThoughtWorks) and Chief Product Officer (Aakash Dharmadhikari, ex CPO C42, ex Burrp.com). India operations as MD of Gojek India ( Sidu Ponnappa ex CEO C42, ex ThoughtWorks).  All four of these founders are joining the board of directors of Go-jek.  This venture is seen to provide employment and livelihood to many in the country.