Not the sort to take public transport much? Then you’ll be glad to know that Indonesia’s ride-hailing firm Go-Jek will be setting up operations in Singapore within the next few months.
Its services will also be available in Vietnam, Thailand and the Philippines and the company will be investing about US$500 million (S$672 million) to gain a foothold.
The move will heighten its rivalry with Singapore-based Grab, which already operates in Indonesia, South-east Asia’s largest ride-hailing market.
The expansion into the four countries will start with ride-hailing services but the company is also aiming to replicate its other services offered in Indonesia to its new markets, Go-Jek added.
It said it is currently working with regulators and other stakeholders across the region to pave the way for the new operations.
G-Jek also said it will seek out local partners with interests and expertise in each of the new markets.
Go-Jek has reportedly been in talks with Singapore taxi giant ComfortDelGro to explore a tie-up. Both companies said last month they would not comment on rumours or speculation.
Go-Jek raised about US$1.5 billion in a fundraising round in February, higher its initial target of US$1.2 billion.
The company said on Thursday its latest fundraising round brought investment from Astra International, Google, JD.com, Meituan, Tencent and Temasek among others.
Go-Jek CEO and founder Nadiem Makarim, said: “Consumers are happiest when they have choice and at the moment, people in Vietnam, Thailand, Singapore and the Philippines don’t feel that they’re getting enough when it comes to ride-hailing.
“We hope that as we arrive in new markets, we will quickly become everyone’s go-to lifestyle app. That is our aspiration. In the meantime, we hope our presence will provide the welcome competition markets need to thrive.”
If you haven’t already heard, there will be several other ride-hailing companies setting up shop in Singapore. And competition among the vendors is always good news (discounts!) for us. Scroll the gallery to find out more about them.
Image: Go-Jek’s Facebook page
Text: Ann Williams/The Straits Times
Additional reporting: Adora Wong
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