Go-Jek eyes Philippines in Southeast Asian expansion | ABS-CBN

ADVERTISEMENT

dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

Go-Jek eyes Philippines in Southeast Asian expansion

Go-Jek eyes Philippines in Southeast Asian expansion

Agence France-Presse

 | 

Updated May 24, 2018 03:28 PM PHT

Clipboard

JAKARTA - Indonesian ride-hailing app Go-Jek said Thursday it would expand into the Philippines, Vietnam, Thailand and Singapore as it takes on regional rival Grab in the fast-growing Southeast Asian market.

The move marks Go-Jek's first expansion outside Indonesia and comes after US-based Uber this year said it would sell its struggling business in the region to Singapore's Grab.

Go-Jek operates a fleet of motorcycle taxis, private cars and other services -- from massage and house cleaning to grocery shopping and food delivery -- all available at smartphone users' fingertips.

The company said it would invest $500 million in its international expansion, starting with ride-hailing services in the next few months. Other offerings would follow in the future, it said.

ADVERTISEMENT

Go-Jek has won financial backing from investors including Google, Singapore's sovereign wealth fund Temasek and Chinese internet giant Tencent.

Southeast Asia's ride-hailing market is expected to reach $20 billion by 2025, according to research done by Google and Temasek.

ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.