The transaction details are not known. Following the acquisition, Loket’s management and operations will remain independent.
Through this partnership, Go-Jek and Loket will provide their respective technology strengths to improve the whole event experience for both consumers and promoters.
Go-Jek CEO Nadiem Makarim said: “We see Loket as a company that continues to innovate and utilise technology in its experience of handling various events and entertainment needs. This collaboration will eventually be able to provide various services that can help promoters solve the main problems of an event; for example, ticket distribution, audience management, and the provision of innovative entertainment. The promoter will then be able to feel the impacts due to the increase of audience satisfaction.”
Go-Jek already provides ticket purchasing services via its unit Go-Tix, with an array of partnerships with cinema networks and various event organisers. Loket will be able to tap into Go-Tix’s current offering of more than 250 events and relationship with two cinema networks, CGV and Cinemaxx.
Go-Tix will expand its offerings with the acquisition of Loket. “With this partnership, the consumer experience of enjoying events and entertainment will be more intact. Ticket purchases, the atmosphere at the event location, as well as transacting at the location of the event, should be smoother, easier, and more comfortable,” Makarim added.
Loket CEO and Co-founder Edy Sulistyo said: “With this partnership, we are able to better benefit our partners by supporting more events of all sizes covering live music events, festivals, attractions, workshops, seminars and movies.”
Founded in 2013, Loket helps companies and event organisers arrange “large scale, revenue generating gatherings” such as concerts, sporting events, expos, and conferences. It services range from ticketing and gate access control to crew monitoring system.
The startup claimed to be the largest purveyor of Radio Frequency Identification (RFID) bracelets in Southeast
Asia. The technology is used for access control, brand activation, cashless payments, and Big Data analytics, which enable Loket to provide analytics information of user behaviour to its clients.
Since inception, Loket claims to have enabled more than 80 per cent of large-scale music events in Indonesia. In June 2016, Loket secured an undisclosed amount in Series A round led by Sovereign’s Capital, with participation from East Ventures.
Started in 2010 as a two-wheeler transportation company by phone call, Go-Jek has now grown to become a leading on-demand mobile platform and application that provides a full range of services, from transportation, logistics and payment to food delivery. The firm reportedly closed a massive US$1.2 billion from Chinese internet giant Tencent at a post-money valuation of US$3 billion. This investment came less than a year after it raised US$550 million from KKR, Warburg Pincus, Farallon Capital, and Capital Group Private Markets.