Indonesia’s tech startup giant, Go-Jek has planned to expand its business to neighbouring countries such as Vietnam, Singapore, Thailand, and the Philippines.
In relations to the plan, Go-Jek shows consistency by being in talks to raise at least US$2 billion to support an expedited expansion overseas, based on a report from a person with direct knowledge of the matter, Bloomberg News has reported.
According to the confidential information, Go-Jek plans to close the funding round in several weeks. In this funding round, it remains unclear who will be involved, meanwhile, existing investors of Go-Jek include Warburg Pincus, Tencent Holds, and Temasek Holdings.
Go-Jek is expanding its business to cover Southeast Asia region and is in an ideal position to fight Singapore-based Grab.
Upon its establishment, Go-Jek was initially known as a ride-hailing firm until it added more services that enable its consumers to enjoy food delivery, buy movie tickets, make the bills payments, and on-demand beauty and massage treatments.
To assist the business expansion by providing a ride-hailing startup firm to become a range of services providers, in recent years Go-Jek has managed to build a group of leaders who are responsible for different businesses.
In Vietnam, Go-Jek would be known as “Go-Viet”. Motorcycle hailing and courier delivery are among the first two services that have commenced in Vietnam after soft launching in Ho Chi Minh City a few days ago.
In Vietnam that is home to more than 90 million people, Go-Viet app has been downloaded 1,5 million times during six weeks’ time and would add more services later on.
On September 12 when Go Viet started its operation, Chief Executive of Go-Jek, Nadiem Makarim said, “Consumers need more choice, and the market needs more competition to allow the industry to grow sustainably.”