Go-Jek begins services in Thailand, challenging Grab
Indonesia’s Go-Jek ride-hailing service has now started up in Thailand under the banner ‘GET’.
Nadiem Makarim, the founder and CEO says they will continue to move into the regional market currently dominated by Grab.
Go-Jek, Indonesian for motorbike taxis (sort of), has launched in Thailand as ‘GET’ and will concurrently build presence in The Philippines through a recent financial-tech acquisition.
The launch comes as both Go-Jek and Grab are investing aggressively to secure market share in South East Asia. Both companies are aware that more of the region’s 640 million consumers are turning to smartphones to commute, shop, make payments, get their news and information.
The firm started operations in Vietnam last September and began trials in Singapore and Thailand at the end of last year.
In Thailand, Go-Jek offers motorbike taxis, food and delivery services and will offer payment services soon.
Go-Jek has suffered a setback to expansion in The Philippines last month when its application to start services was rejected on grounds that its domestic unit did not meet local ownership criteria.
So Go-Jek purchased Philippine company Coins.ph. Coins.ph’s e-wallet and remittances services fit well with the Go-Jek online marketplace and gives them a 5 million user head start in their Philippine expansion.
Go-Jek’s is valued around US$10 billion after raising over a $1 billion in a funding round.
Launched in 2011 in Jakarta, Go-Jek has evolved from a ride-hailing service to a one-stop App allowing users to order and make online payments for products and services as varied as food, ride-hailing and massages.
