Go-Jek eyes Philippines in Southeast Asian expansion | ABS-CBN
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Go-Jek eyes Philippines in Southeast Asian expansion
Go-Jek eyes Philippines in Southeast Asian expansion
Agence France-Presse
Published May 24, 2018 03:02 PM PHT
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Updated May 24, 2018 03:28 PM PHT

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.
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.
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.
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.
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.
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Go-Jek has won financial backing from investors including Google, Singapore's sovereign wealth fund Temasek and Chinese internet giant Tencent.
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.
Southeast Asia's ride-hailing market is expected to reach $20 billion by 2025, according to research done by Google and Temasek.
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