Go-Jek targets listing in next few years, to expand Go-Pay

JAK ARTA: Go-Jek, Indonesia’s first billion-dollar tech startup, has a “set plan” to become a listed company, said chief executive officer Nadiem Makarim.

“We are definitely going to IPO (initial public offering),” said Nadiem at Bloomberg’s Year Ahead Asia Conference, here, yesterday. The IPO is expected “hopefully within the next few years”, he said.

Go-Jek, backed by investors including KKR & Co and Warburg Pincus LLC, will make the expansion of its digital-payment service Go-Pay next year a top priority, said Nadiem.

The firm has already moved from its roots as a source of cheap motorcycle rides to become Indonesia’s largest fooddelivery business.

Currently, Go-Jek customers use Go-Pay to pay for a wide range of services that Go-Jek offers on its mobile app. Nadiem’s goal is to let his customers to pay for coffee, groceries, tickets and other things outside the realms of Go-Jek’s services.

“(The year) 2018 will be the year of Go-Pay,” he said.

Nadiem said his aim was to “see a whole bunch of Indonesians walking around, taking Go-Jek rides around the city without even thinking about whether they have their wallet or not”.

Separately, he played down the impact of SoftBank Group Corp’s planned investment in rival Uber Technologies Inc. Bloomberg