SIN­GA­PORE In­done­sian ride-hail­ing firm Go-jek to ex­pand to Philip­pines in 2018

The Myanmar Times - Weekend - - Asean Focus -

In­done­sia mo­tor­bike-hail­ing startup Go-jek plans to set up op­er­a­tions in the Philip­pines in early 2018, with other South­east Asian coun­tries to fol­low later that year, the com­pany’s chief tech­nol­ogy of­fi­cer said on Thurs­day.

Go-jek, backed by pri­vate eq­uity firms KKR & Co LP and War­burg Pin­cus LLC, com­petes with Uber Tech­nolo­gies and Sin­ga­pore-based Grab to lure cus­tomers in the South­east Asian mar­ket, home to 600 mil­lion peo­ple.

Ajey Gore said in an in­ter­view that “al­most all South­east Asian coun­tries are on the radar over the next three, six to 12 months. The Philip­pines will be the first one, just to fig­ure out how things work.”

He de­clined to iden­tify which other coun­tries it would launch in next. Apart from In­done­sia and the Philip­pines, South­east Asia com­prises Malaysia, Sin­ga­pore, Laos, Thai­land, Viet­nam, Cam­bo­dia, Brunei, East Ti­mor and Myan­mar.

Gore de­clined to com­ment on re­ports about fund­ing and whether the com­pany had any plans for an IPO. The com­pany is also backed by ven­ture cap­i­tal­ist Se­quoia Cap­i­tal and re­cently raised funds from Chi­nese gi­ants and Ten­cent Hold­ings Ltd. – Reuters

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