Bike passengers carrying Helmet with Gojek emblem.
afif c. kusuma | iStock Editorial | Getty Images
SINGAPORE — Ride-hailing start-up Gojek wants to develop its enterprise further, past its residence base of Indonesia this 12 months, co-CEO Kevin Aluwi mentioned Wednesday.
“Over the last few years, we’ve definitely invested relatively smaller amounts in our markets outside of Indonesia. But, we think this is the year where we really want to spread our wings and be a regional and global business,” Aluwi added.
Gojek began in 2010 with ride-hailing in Indonesia and has since branched out into different enterprise areas together with meals supply, digital funds and logistics. It is now current in additional than 200 cities throughout 5 Southeast Asian nations however Indonesia stays its high market.
Aluwi defined that a number of the different nations the place the corporate does enterprise seem to have recovered stronger from the coronavirus pandemic.
While Southeast Asia’s most populous nation has rolled out a mass immunization program, Indonesia remains to be grappling with bringing the virus below management — an infection instances have surpassed 1 million, in accordance to Johns Hopkins University knowledge.
Most corporations in Indonesia are going by way of a tough time, together with transportation providers which have been severely affected, in accordance to Aluwi. While Gojek has additionally felt the pinch, he credit the company’s diversification throughout meals supply, grocery supply and logistics with offering “meaningful pockets of growth.”
The pandemic has pushed folks globally to store on-line and select supply as an alternative of creating journeys to eating places or supermarkets to decrease publicity to the virus. Even with vaccine applications rolling out world wide, some consultants have mentioned the shifts in client conduct are right here to keep after the pandemic is introduced below management.
Gojek can also be reportedly in talks with Indonesian e-commerce participant Tokopedia to seal a $18 billion merger forward of potential IPO plans, Reuters reported this month. The deal might assist Gojek tackle regional rivals together with Singapore-headquartered Grab and web firm Sea, which operates e-commerce platform Shopee and has a market capitalization worth of about $110 billion.
Aluwi declined to touch upon what he described as “merger speculation” and mentioned Gojek’s focus is to proceed constructing its enterprise. He added that Gojek is “extremely optimistic” about 2021.
“We do think that 2021 is going to be a growth year and, more importantly, we spent 2020 really investing in a lot of the business and product and operational fundaments, such that profitability and long-term sustainability looks meaningfully better year-over-year,” he mentioned.
Gojek is valued at $10 billion, in accordance to CB Insights. Some of its distinguished backers embrace Google, China’s Tencent, and Singapore state investor Temasek.