Going Great Guns with Go-Jek
Go-Jek, the ride-hailing service in Indonesia, is reportedly getting funding from search giant Google and Singapore’s investment arm Temasek. Its existing investors, KKR & Co and Warburg Pincus, are said to be participating in the funding as well, which the company hopes will total US$1.2 billion.
Go-Jek, derived from the word ojek, as motorcycle taxis are known in Indonesia, plans to challenge deep-pocketed rivals Grab and Uber with this funding.
|image source – klikmania.net|
Founded by Nadeim Makarim in 2010 with only 20 riders, it has become one of the dominant players in the country and one of a select group of Southeast Asian unicorns, with a market value of US$2.5 billion.
Southeast Asia’s ride-sharing market is predicted to grow from US$2.5 billion in 2015 to US$13 billion by 2025, according to a report co-authored by Google. Go-Jek and its rival Grab want a bigger piece of that pie.
Its e-wallet, Go-Pay, launched in 2016, is Indonesia’s fourth biggest e-wallet service, which facilitates cashless payments for all of the services offered through Go-Jek.
Anytime you plan to visit Indonesia, make sure you download the Go-Jek app. It’ll make your daily commute much more bearable. Here’s a list of its services that you’ll find on its site: