Go-Jek is in talks with the Philippines and expects to be ‘in the market soon’

Indonesia’s Go-Jek is in talks with Philippine authorities to get its ride-hailing service application reconsidered, after it was rejected this month by regulators, and hopes to be in the market soon, co-founder Kevin Aluwi said on Thursday.

The startup, whose backers include Alphabet’s Google, suffered a setback to its regional expansion plans when its application to start ride-hailing services was rejected by Philippine authorities on the grounds that its domestic unit did not meet local ownership criteria.

“We are in conversation with all government agencies and are optimistic we will be in the market soon,” said Aluwi, who also serves as Go-Jek chief information officer.

Having evolved from a ride-hailing service founded in 2011 to providing a one-stop app through which users can make online payments and order food and services such as massages, Go-Jek is now nursing ambitions for a larger share of the Southeast Asian market, currently dominated by Singapore-based Grab.


Big Tech is using a content filtering system for online censorship. Watch our short video about NewsGuard to learn how they control the narrative for the Lamestream Media and help keep you in the dark. NewsGuard works with Big-Tech to make it harder for you to find certain content they feel is 'missing context' or stories their editors deem "not in your best interest" - regardless of whether they are true and/or factually accurate. They also work with payment processors and ad-networks to cut off revenue streams to publications they rate poorly by their same bias standards. This should be criminal in America. You can bypass this third-world nonsense by signing up for featured stories by email and get the good stuff delivered right to your inbox.

Aluwi said Go-Jek had seen transactions worth $12.5 billion “over its whole platform” in 2018, with “consistent and explosive growth”.

The startup announced last week that it had acquired a majority stake in Philippine fintech company Coins.ph, which operates a mobile wallet with five million users.

News website Techcrunch cited two unnamed sources as saying the investment was worth $72 million.

Aluwi, who was speaking at the DealStreetAsia 2019 PE-VC Summit, declined to confirm the size of the investment, but said the firm saw “payments as a key part of the platform evolving”.

Go-Jek has raised billions of dollars from investors such as Tencent Holdings, JD.com and Temasek Holdings in its race for market share.

Sources told Reuters in November that Go-Jek’s valuation was between $9 to $10 billion.

The firm, which has launched its services in Singapore, Vietnam, and Thailand in 2018, is examining whether to expand to Malaysia, Aluwi said.

Ride-hailing services in Southeast Asia are expected to surge to almost $30 billion by 2025 from $7.7 billion in 2018, according to a Google-Temasek report.

Asked about reports that Go-Jek was mulling the purchase of JD.com’s Indonesia business, Aluwi said they “had no near or medium plans to enter the e-commerce space”.

Comment via Facebook

Corrections: If you are aware of an inaccuracy or would like to report a correction, we would like to know about it. Please consider sending an email to corrections@publishedreporter.com and cite any sources if available. Thank you. (Policy)