Indonesia’s darling app Go-Jek has come a long way from a delivery call center with 20 ojek (motorcycle taxi) drivers to more than a million drivers and an estimated valuation of US$9.5 billion. All within nine years.

On its ninth anniversary on Monday, Go-Jek unveiled its new logo, which symbolizes the company’s diversification since it was founded to cover services far beyond ojek, from payments to makeup, shopping and cleaning services.

“Go-Jek has changed so much from its beginnings. We have to accommodate various service providers, merchants, payment systems and other [stakeholders],” said Go-Jek cofounder and CEO Nadiem Makarim.

There is no more motorcycle portrayed in the new Go-Jek logo, nicknamed “Solv”, but it symbolizes a map pin, a motorcycle wheel and an eagle-eye view of a driver straddling a motorcycle.

Go-Jek started off as a call center where the operators would accept orders from customers and manually contact the drivers individually until one of them accepted the order. The entire system ran on spreadsheets. The year 2015 transformed the company as it launched its mobile app, offering three services (transportation, food and package delivery) with an automated bidding system with drivers.

Today, Go-Jek operates in 20 eclectic submarkets, with gross transaction volume (GTV) across Southeast Asia reaching $9 billion last year. Go-Food and Go-Pay in Indonesia alone contributed $6.3 billion and $2 billion,
respectively.

Go-Jek cofounder Kevin Aluwi said on Monday that despite the company’s submarket diversification, it essentially provided three core services, which were moving people (transportation), moving things (logistics) and moving money (financial services).

To that effect, the decacorn has expanded over the past 18 months to Thailand, Singapore, the Philippines and Vietnam, but only Thailand supports all three core services.

Go-Jek Group president Andre Soelistyo said the company’s Vietnamese counterpart (Go-Viet) held a 40 percent market share in local two-wheel ride-hailing services, while its Thai counterpart (GET) was a “top three” player in local online food delivery services.

He added that the company began last month pilot testing e-wallet GetPay in Thailand, continued talks with regulators to introduce ride-hailing services in the Philippines and marked its next market-of-interest as Malaysia.

Go-Jek is catching up with ride-hailing rival Grab, a Singapore-based company that not only operates in all Southeast Asian markets except Brunei and Laos but also holds several leading positions for either food delivery or ride-hailing in its markets.

The company is focusing on deepening existing services in each of its Southeast Asian markets and introducing more subsector services, said Kevin.

“If we look at food delivery in Singapore, it’s a bit different because in Singapore, motorcycles are limited. But in Vietnam and Thailand, we see the progress is similar to that in Indonesia. It will start with various motorcycle-based on-demand services before entering payment and lifestyle services,” Kevin added.

Fueling regional expansion, Andre said Go-Jek had secured most of its ongoing Series F funding round, which aims to raise $2.5 billion this year.

Go-Jek last announced that it had secured $250 million from Indonesian automotive giant Astra International and two undisclosed amounts from Japan’s Mitsubishi Motors and America’s Visa. All three investors said they looked forward to new partnerships following their investments.

The ride-hailing decacorn unveiled last week, Go-Fleet, which is a joint venture company with Astra that rents cars for ride-hailing drivers. Mitsubishi and Visa have not yet revealed the manifestations of their partnerships, except that the former would develop “mobility solutions” while the latter would “develop payment systems”.

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