SINGAPORE Indonesian ride-hailing firm Go-jek to expand to Philippines in 2018
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 Jd.com and Tencent Holdings Ltd. – Reuters