GO-JEK Expands Further to Singapore
It's currently on progress, to be finalized before October 2018
Randi Eka - 5 October 2018
GO-JEK reportedly prepares a regional expansion, Singapore to be the next target. It's currently on progress, to be finalized before October 2018. Although the market share is not as big as other countries, such as Vietnam, there are some strategic aspects for the "karya anak bangsa" on-demand startup to gain.
Aside from being known as a hub for digital companies in Southeast Asia, Singapore is also the base of its main competitor, Grab. On the other hand, the expansion is quite challenging for GO-JEK because two-wheeler isn't allowed as Singapore's public transportation mode. GO-JEK, as quoted in TechCrunch, is discussing with ComfortDelGo as the biggest taxi provider in town.
However, GO-JEK's app ecosystem is complete enough to escort car transportation. Supported by GO-PAY, it's possible for any other services, such as ticket booking or car advertising can be brought into the market. Besides, ride-sharing consumers in Singapore are demanding for options post-Uber acquisition by Grab.
On the expansion, GO-JEK is being serious. Previously, the company was reportedly to raise funding for expansion ammo to the amount of IDR 30 trillion. After Vietnam, GO-JEK's next targets are Thailand, the Philippines, and Singapore. However, it's not really the problem, take the regulation issue in the Philippines as an example.
Having IDR 75 trillion value and supported by global investors, such as Tencent and Google, no wonder they have an ambitious target for the current mission in the region.
- Original article is in Indonesian, translated by Kristin Siagian