The company has confirmed it will launch ride-hailing services in Singapore, Thailand, Vietnam, and the Philippines in the next few months.
24 May, 2018TECHINASIA.COM
Photo credit: Go-Jek
Grab became the clear market leader in ride-hailing across Southeast Asia after it elbowed Uber out of the picture. As expected, it will have little time to enjoy the limelight.
After months of speculation, Indonesian rival Go-Jek has officially announced its plan for expansion beyond its home market.
The Jakarta-based company is spending US$500 million to move into Singapore, Thailand, Vietnam, and the Philippines – all countries where Grab is currently the dominant player.
Over the next few months, it will bring its ride-hailing service to these markets, before adding other on-demand features in the future.
Go-Jek said in a statement that its operations in new markets will be run by local founding teams, while it will provide technological support and expertise.
“The local companies will determine their own brands and identities to ensure good traction in each new market,” the statement said.
Go-Jek reportedly raised around US$1.5 billion in its most recent funding round, with Google, JD, Meituan-Dianping, Tencent, and Temasek among the big-name investors to come on board.
This is a developing story. Check back for updates.
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