Digital Asia News Update
Indonesian homegrown ride-sharing service Go-Jek is reportedly readying up to step foot in Singapore, which is the headquarter of its main competitor Grab. As reported by Techcrunch, the company plans to be in Singapore with the speeding up of its regional expansion program.
Go-Jek reportedly will introduce the Singapore’s service before the end of October. However, it remains inconclusive on how the company will deal with Singapore’s no-motorbike-taxi policy.
Also Read: Blockchain VCs got together to invest US$20M in Singaporean AI Grid Foundation
It is said to be in discussion with ComfortDelGro, Singapore’s taxi operator who may also launch a private car service within the country.
Following the exit of Uber, which is another one of the company’s rivals, the company seems to gain strength and showcase it by expanding to neighboring countries such as Vietnam and Thailand.
Today, the company has a US$5 billion valuation with Google and Tencent back it up, all concentrated in Indonesia and keeps on growing to covering other services like digital wallet, food delivery, and even on-demand cleaning and beauty service.
Also Read: Filipino fintech startup First Circle raises US$26M Series A funding round
Go-Jek is currently in discussions with investors with a possibility to raising US$2 billion to fund its coming expansion.
Image Credit: Go-Jek