In Jakarta alone, traffic congestions caused IDR 65 trillion in annual productivity loss.
With traditional motorcycle taxi drivers, passengers need to haggle for a price before each journey.
Many in Southeast Asia do not have bank accounts, relying on cash for daily transactions.
Go-Jek looks set to expand its presence to the entire Southeast Asia region, where there is still much room to solve the road traffic and unbanked population problems.
Go-Jek started out as a call center connecting passengers with motorcycle-taxi drivers, known locally as ojek. The company provided training and uniforms to the drivers and set a standard pricing. These, together with having customers rate its drivers, helped build Go-Jek’s image of reliability and safety, hence gaining riders’ trust and boosting its popularity.
By leveraging the motorcycle taxi network it has built, Go-Jek was then able to easily add on – or in its founder Nadiem Makarim’s words, “stack on” – different services/businesses to this logistics infrastructure, enabling its rapid vertical expansion into many markets. This includes food delivery, courier services, and even lifestyle services such as massage, make-up or professional house cleaning. Strategic partnerships have also enabled Go-Jek to offer ticket booking services and large goods shipping (via the Go-Box truck booking service). Some of its lifestyle services, such as the massage and beautician booking services, are now grouped under a separate Go-Life app.
Go-Jek is eyeing a slice of the largest and most profitable market – financial services. For starters, through its e-wallet Go-Pay, customers could soon bypass banks and use Go-Pay to shop for everything they need. Besides paying for Go-Jek’s own services, customers can use Go-Pay to pay various bills or top up their mobile card’s balance. The e-wallet can be easily topped up through Go-Jek drivers.
Currently, it is also conducting trials for QR code-based payments in offline stores, such as food stalls. The founders’ vision includes extending financial services to the estimated 110 million Indonesians who don’t have a bank account.
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February, launched Go-Jek call center with 20 motorcycle taxi drivers.
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January, launched Go-Jek app (Android and iOS) with 800 drivers and financial backing from NSI Ventures – the turning point in its business.
April, launched food delivery service feature, Go-Food; expanded to Bandung, the capital city of West Java; reached 4,000 drivers in its network.
October, launched Go-Box, a large goods delivery service; Go-Glam, a beautician booking service; Go-Massage, a masseuse booking service; and Go-Clean, a professional cleaner booking service; Go-Busway, a bus system integration service.
March, expanded to Bali island for local tourists.
April, reached a network of 3,000 drivers in Greater Jakarta area, 500 in Bali and 500 in Bandung. June, expanded to Surabaya, the capital city of East Java and the second-biggest city in Indonesia.
July, network reached 10,000 drivers. August, expanded to Makassar, the capital city of South Sulawesi.
November, expanded to five new cities: Yogyakarta, Semarang, Medan, Palembang and Balikpapan. December, reached 4 million downloads.
December, temporarily banned by the Ministry of Transportation.
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January, partnered with Japanese instant messaging app Line, allows user to book a motorcycle-taxi via instant messaging.
April, upgraded to e-wallet Go-Pay; released a major application update and new service, Go-Car.
May, partnered with Indonesia’s largest taxi operator, Blue Bird, to allow users to hail Blue Bird taxis via the Go-Jek app.
June, insurance company PT. Asuransi Allianz Life Indonesia launched an insurance program for Go-Jek motorcycle taxi drivers and their families.
September, tested Go-Med, a medicine delivery service in partnership with pharmacy Apotik Antar. - For delivery of OTC medicines, vitamins and prescription drugs. - Users can upload photos of their prescriptions. October, rolled out Go-Auto, an on-demand auto mechanic service. November, introduced Go-Pulsa, a mobile credit purchasing feature in Go-Pay. Allows users to top up their prepaid phone credit using their Go-Pay balance.
March, reached 11 million downloads; more than 200,000 drivers in their network.
May, became a logistics partner of online marketplace startup Tokopedia. September, became a logistics partner of online marketplace startup BukaLapak.
November, supported the Jakarta’s General Election Commissions (KPU) by displaying reminders to vote for the next Jakarta Governor on 15 February 2017.
August, raised more than US$550 million in a new round of funding led by KKR & Co. and Warburg Pincus LLC, the largest ever for an Indonesian technology startup.
February, acquired two Indian tech startups and established an R&D center in Bangalore.
September, acquired Indian healthcare marketplace Pianta to improve its engineering team.
October, acquired e-payment company PonselPay.
November, acquired India-based app development company LeftShift Technologies.
January, bug discovered in the Go-Jek application
March, anti-ride-hailing app protest turned violent.
July, investor presentation leaked; several Go-Pay user accounts were hacked.
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April, Go-Jek reported to have raised US$1.2 billion in a Series E round of financing led by China’s Tencent Holdings. The funds would be used to fuel Go-Jek’s international expansion and load its “war-chest”.
Over the following months, investors such as Google, Allianz, Astra International and JD.com confirmed their involvement in the round. In 2018, it was estimated that Go-Jek raised US$1.5 billion in funding, at a US$5 billion valuation.
August, acquired event ticketing and management startup Loket for an undisclosed sum. Loket’s team and operations continue to operate independently.
December, acquired rural online-to-offline group buying startup Mapan, as well as payment startups Kartuku and Midtrans. The acquisition is meant to bolster its Go-Pay service.
Mapan’s founder Aldi Haryopratomo was appointed Go-Pay’s CEO, while the heads of Kartuku and Midtrans were given key appointments in the Go-Jek group.
With Uber’s exit from Southeast Asia, Grab remains Go-Jek’s strongest regional rival.
Further afield, Go-Jek invested in Bangladeshi ride-hailing startup Pathao in a “pre-series B” round in April 2018.
In May 2018, after Uber’s exit from Southeast Asia, Go-Jek announced that it would invest US$500 million to expand its business to Singapore, the Philippines, Thailand and Vietnam. The expansion in each country will be led by “local founder teams”, ensuring that Go-Jek can benefit from deeper market knowledge.