Ride-Hailing Firm Go-Jek to Expand Abroad
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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.
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,” chief executive Nadiem Makarim said in the statement.
The announcement comes after Uber Technologies Inc 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.
Questions & Answers
Q.Which countries will Go-Jek expand into?
Which countries will Go-Jek expand into?
Go-Jek announced it will enter Vietnam, Thailand, Singapore, and the Philippines. This expansion is planned to happen in the next few months, starting with ride-hailing services in these new markets.
Q.What is the initial focus of Go-Jek's expansion abroad?
What is the initial focus of Go-Jek's expansion abroad?
The initial focus of Go-Jek's international push will be on ride-hailing services. The company plans to expand into other sectors in these new markets at a later stage, following the launch of ride-hailing.
Q.How much money is Go-Jek investing in its international expansion?
How much money is Go-Jek investing in its international expansion?
Go-Jek is investing $500 million in its international push. This substantial investment supports its plans to launch services in Vietnam, Thailand, Singapore, and the Philippines, starting with ride-hailing.
Q.Which companies have invested in Go-Jek recently?
Which companies have invested in Go-Jek recently?
Go-Jek's latest fundraising round secured investment from several companies. These investors include Astra International, JD.COM, Tencent, and Temasek, supporting Go-Jek's expansion plans.