Indonesia-based hyperlocal transport Startup Go-Jek is expected to expand its operations in 3 to 4 South-East Asian countries. This will surge the growth of the company and also will have a better stand in front of its rivalry companies such as Grab and Uber Technologies Inc. For the company, this will be its first foray outside its home country.
On the development, Nadiem Makarim, Co-founder, and Chief Executive Officer, Go-Jek said:
We’ve always been on the defensive. It’s time to bring competition to their doorsteps.
But he didn’t disclose any other details about where they are going to expand their venture.
Founded in 2010, Go-Jek is a hyperlocal transport, logistics and payments startup based in Indonesia. It owns and operates a fleet of motorcycle taxi fleet and provides delivery services.
He further added that:
I think we’ve cracked the model of a platform that works in an emerging economy where infrastructure isn’t so great. There is a high likelihood that we would leverage our full stack. If we come in, we come in with the whole sweep of weapons.
Even though the details were not specified by the company, they said that they will be placed with a large population and where cash rules, hinting that Go-Jek’s digital payment service will be a key part of its push into new markets.
According to the reports, After Indonesia, the Philippines, Vietnam, and Thailand have the most number of people in the region, with a combined population of about 270 million.
The company has also rolled out mobile digital-payment services, seeing it as a way to scale their businesses and build a potentially lucrative business by offering financial services to a large number of people with little access to banking.
Grab, South-east Asia’s largest on-demand transport company, with operations in seven countries, is operated by Anthony Tan who is Makarim’s former classmate at Harvard Business School. It recently raised $2 Billion from Didi and Softbank.