The Jakarta Post
Ride hailing application Go-Jek plans to operate in four other member countries of the Association of the Southeast Asian Nations (ASEAN) as part of its efforts to expand its business in the region.
Go-Jek founder and CEO Nadiem Makarim did not specify the destination countries of his company’s forthcoming investment, but he has previously mentioned that money would go to countries with large populations and those that still relied on cash transactions.
“So far, we have held off operating [outside Indonesia]. It will be the first time we have faced tougher competition,” Nadiem said as reported by kompas.com on Monday.
He, however, did not mention the amount of the money to be invested and when the investment would commence.
Go-Jek’s main competitor, Grab, which is based in Singapore and operates in seven countries, recently received financing from SoftBank Group and Didi Chuxing from China.
Nadiem said his company had a platform that was fit for investing in countries whose economies were not yet well developed and still lacked infrastructure. (bbn)