Indonesia’s ride-hailing company ups its game by starting services in Thailand and even works toward entering the Philippines.
Earlier this month, sources told Reuters that Go-Jek’s was valued at up to $10 billion after raising over a $1 billion in a funding round led Tencent Holdings Ltd, JD.com Inc and Alphabet Inc’s Google.
Afterward, the Philippines rejected its application to start services in the country for its domestic unit did not meet local ownership criteria. Go-Jek subsequently announced the purchase of Coins.ph, a Philippine fintech company.
Makarim asserted that the acquisition of the fintech firm meant Go-Jek had begun to develop a presence in the Philippines, nevertheless, emphasized that they are always moving pretty fast.
Go-Jek, being launched in 2011 initially in Jakarta, also operates in Vietnam last September and even began trials in Singapore. The company has evolved from a ride-hailing service to a one-stop app allowing people to make orders and payments for products and services.
In Thailand though, Go-Jek only offers transportation, food and delivery services. Pinya Nittayakasetwat, chief executive of the Thai subsidiary, says that payment services will soon be offered.
Go-Jek is also carefully considering other Southeast Asian markets namely Malaysia, Cambodia, and Myanmar.