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Gojek’s GMV Exceeds 175 Trillion Rupiah in 2018

Expecting to arrive in Philippines soon and considering to enter Malaysia

Marsya Nabila - 28 January 2019

Gojek is said to be the tech startup with the largest transaction in Southeast Asia. During last year, the total GMV has reached US$12.5 billion (around Rp175 trillion).

In Indonesia, Go-Food’s vertical service contributes around US$2.5 billion (around Rp35 trillion). In addition, Gojek has 2 million driver partners and 400 thousand Go-Foood merchants. The app has been downloaded 130 million times throughout Southeast Asia.

It was direcly stated by Kevin Aluwi, Gojek’s Co-Founder when attending Indonesia PE-VC Summit 2019 as a speaker, yesterday (1/24).

In addition, Aluwi also shared a brief information related to the overseas expansion and its challenges, his opinion on IPO’s issue and Gojek’s outlook in a year.

He also said the overseas expansion is a new thing and it’s normal to adapt a little bit. However, he ensures that Philippines is a valuable market and they’re working hard with various institutions to get the best solution. He expects to arrive in Philippines soon.

Regarding Ministry of Communication and Information (Kemkominfo) minister, Rudiantara, offering to facilitate Gojek’s plan in Philippines, Aluwi said the team’s appreciation. However, the company always strives to partner with the right ones, local and international, for the success of the launching.

“It’s very important for me to work in team and comply with the requirements of local government. Overall, the expansions has gained positive response beyond our internals’ expectation,” he said.

International expansion

Gojek transportation services in Vietnam has grown rapidly that gives them enough confidence to launch Go-Food in the region. The achievement is said to mark second position in the market after 1.5 months launching.

In Thailand, it might be too soon to define. However, it’s having a positive response, even though Gojek hasn’t 100% final.

Singapore is considered as Gojek’s most publicized expansion. The team is quite surprised with Singaporean response, both supply and demand. There’s a huge desire to have a competitive and fair market.

We’ve far exceeded this year’s target for Singapore. Therefore, we’ll re-evaluate our activity due to the surprising response.”

He said Gojek transportation service had exceeded 1 million trips post launching for less than two months.

Another thing was added regarding Gojek’s plan to enter Malaysia. He said the possibility is in there, but the team is still exploring the vertical service to be offered in the region.

Both Malaysia and Singapore are opposing the two-wheeler transportation service due to unsafe. Therefore, Gojek only provides taxi transportation service for Singapore.

In the future outlook, the company is said to keep digging from last year. Besides international expansion, Gojek has done several activities in 2018. One is to release Go-Pay from ecosystem and to be utilized by many as a payment method.

On the same occasion, Kevin Aluwi avoids to make further statement on the Rumor saying Gojek is processing a new funding round of US$2 billion (around Rp28 trillion). He only mentioned they have some exciting news coming soon.

In terms of IPO, he said similar statement as the previous Gojek management, that IPO is not the main priority, either internals or investors. He didn’t explicitly choose to be registered in the IDX.

“Are we going to do it [IPO] in IDX, I think it’s not the time and it’s still a hypothesis rather than choosing a strong thesis regarding what to do. In the end, we’ll try our best for the shareholders and our customers.”


Original article is in Indonesian, translated by Kristin Siagian

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