Gojek's Get Officially Launches Operation in Thailand, Where to Next?
Go-Jek, a play on the Indonesian word for motorbike taxis, launched in Thailand under the brand GET and is building presence in the Philippines through a recent fintech acquisition, Makarim said.
The launch comes as Go-Jek and Grab raise billions of dollars and invest aggressively to secure market share in Southeast Asia, as more of the region’s 640 million consumers turn to smartphones to commute, shop and make payments.
An app released by Get last year for hailing motorbike taxis has found favor among Bangkok residents as traffic congestion worsens. The startup has amassed more than 20,000 merchants and 10,000 drivers.
"Then, we teamed up with Go-Jek and offer food delivery services," said Pinya Nittayakasetwat, a co-founder and CEO of Get, as qouted by Nikkei Asian Review.
"We started our beta testing service for about two months, and we got thousands of consumers, which is a very good response."
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.
Go-Jek subsequently announced the purchase of Philippine fintech company Coins.ph. The Indonesian firm was drawn by Coins.ph’s e-wallet and remittances services as well as its 5 million users, a person with direct knowledge of the matter told Reuters.
On Wednesday, Makarim said the acquisition meant Go-Jek had begun to develop a presence in the Philippines.
“We are present there, we just don’t have our mobility services launched as of yet,” he told Reuters.
“I can’t give you a firm (start) date, but knowing Go-Jek, it’s usually pretty fast.”
Launched in 2011 in Jakarta, Go-Jek has evolved from a ride-hailing service to a one-stop app allowing users to order and make online payments for products and services as varied as food and massages.
The firm started operations in Vietnam in September and began trials in Singapore and Thailand at the end of last year.
In Thailand, Go-Jek offers motorbike taxis, food and delivery services. Pinya Nittayakasetwat, chief executive of the Thai subsidiary, said Go-Jek will offer payment services “soon.”
Co-founder Kewin Aluwi in January said Go-Jek was evaluating other Southeast Asian markets including Malaysia. On Wednesday, Makarim declined to comment when asked whether Go-Jek planned to enter countries surrounding Thailand such as Malaysia, Cambodia and Myanmar.