Indonesia’s Go-Jek Set For Expansion Drive In Southeast Asia
Investvine, A Company of Inside Investor, Ltd.
Oct 03, 2017

Indonesia’s popular ride-hailing company Go-Jek, the country’s first billion-dollar startup, is looking to expand to at least four countries in Southeast Asia, Bloomberg News cited the firm’s co-founder and CEO Nadiem Makarim. It would be Go-Jek’s first foray outside its home market.

In a bid to regionally compete with rivals Grab from Singapore, US ride-hailing provider Uber and China’s Didi Chuxing, Go-Jek will move into “places with a large population” and will also offer digital payment services, Makarim said.

While he did not specify particular countries, the Philippines, Vietnam, Thailand and Myanmar would be the most densely populated nations in the region behind Indonesia with about 320 million people combined.

Go-Jek has also rolled out its own mobile digital payment service to scale its business by offering cash-free payments and other financial services to a large number of people with little access to banking and credit cards.

The company, Indonesia’s most successful start-up so far, was launched in October 2010 with a call center and fleet of 20 motorbike drivers. In the meantime, owing to its rapid success in a country where urbane centers are notorious for their dismal public transport options , Go-Jek is now available in 25 cities in Indonesia, while its fleet already exceeds 200,000 drivers and includes motorcycles, cars and even trucks.

In August 2016, Go- Jek received funding more than $1 billion from US private equity firms KKR & Co. and Warburg Pincus LLC.

- ASIA TODAY News Global Distribution

Company Investvine, A Company of Inside Investor, Ltd.
Contact Imran Saddique