Indonesian ride-hailing firm Go-Jek says to expand abroad

Published May 24, 2018, 12:00 AM

by manilabulletin_admin

By Reuters

Indonesian ride-hailing and online payment firm Go-Jek on Thursday said it would enter Vietnam, Thailand, Singapore and the Philippines in the next few months, investing $500 million in its international push.

A Go-Jek driver rides a motorcycle on a street in Jakarta, Indonesia, December 15, 2017. (REUTERS/Beawiharta / MANILA BULLETIN)
A Go-Jek driver rides a motorcycle on a street in Jakarta, Indonesia, December 15, 2017. (REUTERS/Beawiharta / MANILA BULLETIN)

The move will start with ride-hailing services before expanding to other sectors, Go-Jek said in a statement.

“People in Vietnam, Thailand, Singapore and the Philippines don’t feel that they’re getting enough (choice) when it comes to ride-hailing,” CEO Nadiem Makarim said in the statement.
The announcement comes after Uber Technologies Inc [UBER.UL] sold its Southeast Asian operations to local competitor Grab.

Go-Jek said it was working with regulators and other stakeholders across the region to prepare for the new operations.

The expansion follows Go-Jek’s latest round of fundraising, which brought investment from companies including Astra International, JD.COM, Tencent and Temasek.

 
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