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Tag: gojek

  • Gojek Business Model – How Does Gojek Make Money?

    Gojek is an Indonesian super app which is a one-stop destination for paying bills, booking movie tickets, ordering food, buying groceries, sending or receiving packages, booking two-wheeler or four-wheeler taxis, paying money digitally and much more. The company provides 20+ services to consumers.

    The company which started as a ride-hailing service with just 20 motorcycles is now Indonesia’s first decacorn.

    In May 2021, Gojek merged with Indonesian e-commerce company Tokopedia to form GoToGroup. The company has created its own ecosystem and is growing at a rapid scale.

    In the beginning, the company faced tough competition from Uber but, still, the company was able to beat the company all thanks to its business and revenue model.

    Let’s decode the business and revenue model of Gojek, shall we?

    What is Gojek?
    Main Services of Gojek
    Target Audience of Gojek
    Business Model of Gojek
    What Is Unique About Gojek?
    How Does Gojek Make Money?
    How Did Gojek Destroy Uber?

    What is Gojek?

    Gojek is an Indonesian company that has a super app using which you can pay money digitally and get access to on-demand services in various sectors like transport and logistics, food and shopping, daily needs, business, news and entertainment. Basically, the app is a one-stop destination for users to get a wide variety of services.

    Gojek operates in 5 counties: Indonesia, Vietnam, Singapore, Thailand, and the Philippines. The headquarters of this company is in Jakarta.

    The journey of the company started in 2010 when the company had 20 motorcycle drivers who were providing on-demand bike rides to passengers. Later, the company started providing food delivery and courier services.

    Although things completely changed for the company when it launched its official app in 2015 with four services: GoRide, GoSend, GoShop, and GoFood. Later, Gojek changed its business model to a super app and the rest is history.

    Main Services of Gojek

    Gojek provides 20+ services to its users:

    Transportation and Logistics:

    • Goride: Get a two-wheeler taxi and reach your destination on time.
    • Gocar: Book a four-wheeler taxi.
    • Gosend: Send or receive packages within a few hours.
    • Gobox: If you moving out and want to shift your goods to the new house you can use this service.
    • Gobluebird: Book exclusive Bluebird rides (Bluebird is Indonesia’s leading taxi operator).
    • Gotransit: Acts as a trip assistant where users can plan, track and reach from one destination to another using: public transportation, Gojek transport or a combination of both. This service provides real-time updates.

    Food and Shopping:

    • Gofood: Order food online from your favourite restaurant.
    • Gomall: Buy products from the online marketplace.
    • Gomart: Get groceries at your doorstep.
    • Gomed: Buy medicines from licensed pharmacies.

    Payments:

    • Gopay: 4th largest e-wallet service in Indonesia
    • Gobills: Pay your bills online.
    • GoPaylater: GoPayLater from Findaya provides a payment method where users can pay bills, buy clothes and pay the money in the upcoming months
    • Gopulsa: Top up your data and talk time.
    • Gogive: Donate money to the trusted NGO and GO beneficiaries.
    • Goinvestasi: Buy and sell gold and get the money credited to your Gopay account

    Daily Needs:

    • Gofitness: Access exercises such as yoga, Zumba, pilates and many more

    Business:

    • Gobiz: This service is especially for merchants who want to manage and grow their business.

    News and Entertainment:

    • Gotix: Book movies and events tickets
    • Goplay: Stream movies and web series
    • Gogames: Get gaming tips, top-up gaming credits and watch your favourite gamers
    • Gonews: Read the latest news

    Target Audience of Gojek

    The target audience of Gojek is people between the age group of 18-34 years old who live in urban cities. The company also targets people who are not financially stable by providing them with their digital payment service: Gopay.

    Since Gojek provides a wide variety of services they are able to cater for the needs of a larger audience. Their super app model allows them to connect with different kinds of people from different sectors.

    Business Model of Gojek

    Gojek follows the super app business model where they provide a wide range of services to its users on a single platform. This means that instead of using one app to book movie tickets and another app to send packages they can use Gojek to fulfil both of their demands.

    The super app model provides a more convenient approach and also saves time for the consumers. This business model works really well because nowadays consumers have become impatient and want things as fast as possible.

    The business model of Gojek revolves around three segments: consumers, merchants and drivers.

    Let’s see how the super app works for these three segments:

    Consumers:

    First consumers need to identify what kind of service they want. For example, do they want to book movie tickets, send packages, book a two-wheeler or order food?

    If the customers want to order food online, Gofood is the right option. The second step would be to select their desired food and add it to the cart. Finally, they have to pay the money. After paying the amount consumers will receive the food at their doorstep.

    Merchants:

    Once the food is ordered or any kind of service is requested the merchants will receive the order details in their Gojek app. Once merchants understand the order details they need to start processing the order. In the meantime, the delivery driver is on his way to get the product.

    Merchants have to make sure that they make the product or service as soon as possible. Once the order is ready, the delivery guy takes the product and delivers it to the customer. When the product is handed over to the delivery guy the money is instantly deducted from the merchant’s Gopay wallet.

    (All the transactions on Gojek are majorly done via Gopay)

    Drivers:

    Drivers need to first sign-up with Gojek by providing some basic details like name, address, identity proof, vehicle number, license number and many more.  The internet connection of drivers needs to be really good if they want to receive a large number of orders.

    Drivers can choose from a wide variety of services. They can sign up as the two-wheeler taxi driver, car drivers, delivery guys and much more. To get started they need to turn on the online icon which is present in the Gojek app. Once they turn it on, they will start receiving the orders.

    If a delivery guy is busy delivering products, the app shows him busy and the order is automatically assigned to another driver.

    What Is Unique About Gojek?

    The USP of Gojek is that the company provides 20+ services which users can access from just a single app. To beat its competition the company started using scooters and motorcycles instead of cars to avoid the huge traffic jams. Due to this brilliant idea, the services of Gojek became more premium and hassle-free.

    How Does Gojek Make Money?

    Commission from Consumers:

    Gojek gives a one-stop solution to its consumers for all their demands. They don’t have to install numerous apps to fulfil their needs. Instead with just Gojek, they can access 20+ services. For this convenient and fast service, consumers need to pay a service charge of 10% of the order.

    Commission from Merchants:

    A lot of merchants want to showcase their products and services on Gojek. Due to the huge customer base and popularity of this super app, everyone wants to grow their business and open new streams of revenue. Gojek takes a small commission from the retailers on each order that they get. This commission is automatically deducted from the retailer’s wallet when they hand over the product to the delivery guy.

    Commission from Drivers:

    Drivers and delivery partners also need to pay Gojek a commission of 20% on each order delivered. This is a smart strategy since it encourages drivers to deliver more products in order to gain profit.

    How Did Gojek Destroy Uber?

    In the beginning, when Gojek started its ride-hailing service its biggest competitor was Uber which had already earned its name in the market. Although Uber wasn’t able to capture the market and its newly arrived competitor Gojek grew both its customer base and profit.

    What is one thing that allowed Gojek to beat Uber?

    Gojek was able to beat Uber because the company had studied the local market of Indonesia in detail. The company had understood most of the cities in Indonesia has a huge traffic jam. In this condition, using cars to deliver passengers won’t be a smart decision.

    To avoid traffic jams and speed up their process Gojek started using scooters and motorcycles. This made the transportation service of Gojek much more convenient and hassle-free.  On the other hand, Uber’s business model was purely revolving around cars which made it impossible for the company to grow.

    Another advantage of incorporating scooters and motorcycles in their business model was that it was much cheaper for people to buy two-wheelers than a four-wheeler. This helped Gojek to get a huge amount of drivers.

    After that Gojek transformed itself into a super app which further helped the company to capture the whole market.

    Conclusion

    The business and revenue model of Gojek taught us that we should always understand the target audience’s needs and behavioural patterns. We should also study the local market in great detail. These two things will allow you to build a powerful business model.

    Gojek understood that most of the cities in Indonesia have a lot of traffic congestion. So, when the company started its ride-hailing service it started using scooters and motorcycles instead of cars to avoid traffic jams. This made the company’s services more premium and attractive.

    After that, they started giving a wide variety of services to acquire more customers. Gojek is successful today because they have simplified the customer journey and made their services top-notch.

    Remember, when you provide quality services to the customers your business will automatically grow. You should always try to innovate and aim to make the lives of your customers easier and happier.

    FAQs

    How does Gojek operate?

    Gojek follows a super app business model where they provide a wide range of services like paying bills, booking movie tickets, ordering food, buying groceries, booking a four-wheeler or a two-wheeler taxi and much more on a single platform.  Gojek operates with 3 people in its business model: Consumers, merchants and drivers.

    How does Gojek make profits?

    Gojek earns profits by taking commissions from its consumers, merchants and drivers. Consumers need to pay a service charge of 10% of the order. While the drivers receive a commission of 20% on each order delivered.

    How does Gojek make profits?

    Gojek focuses on bikes and scooters instead of cars to avoid traffic jams and speed up their process.

  • Gojek Marketing Strategies – How It Succeeded to Target Market in Indonesia?

    It would be stupendous when a single application bestows multi-services to its users from delivering solicit requisite assistance and accessing the digital payment for acquiring products. Epiphany Gojek is considered beyond an app and so-called ‘SuperApp’ that functions in providing abundance services from transport & Logistic Brands, digital payment, food & shopping, Business, Daily needs and Entertainment (Booking Tickets).

    Gojek is an Indonesia-based SuperApp which originated its operation in 2010 by Nadiem Makraim, Kevin Aluwi and Michaelangelo Moran with an idea of transport service, where 20 motorbikers joined the crew of Gojek.

    Within the subsequent 2 years, the company intensified its services to the next level and launched Gojek App in 2015 with nearly 30 million downloads. In 2017, Gojek succeeded to get 17th rank and made the first South-East Asia company appear in the list of ‘Forbes’s 50 companies that changed the world’.

    Apart from that, the company gained national attention in receiving- Best Indonesia Mobile Application 2015 and Best Startup, in 2017 the company received Indonesia’s Most Admired CEO and Most Creative in Solving Economic Challenges 2017. Later In 2019,  It received BrandZ Top 15 Most Valuable Indonesian Brands.

    The company obtained its heyday by starting a call centre for transportation services named- Goride, GoCar, Gobox and more in Indonesia and now became an on-demand multi-service platform in seven Cosmo political countries- Vietnam, India, Singapore, Indonesia, Philippines, Malaysia and Thailand.

    Key Marketing Strategies of Gojek
    Segmenting, Targeting, and Positioning Strategy of Gojek
    Gojek Prominent Marketing Campaign
    Gojek Marketing Strategy in Covid 19

    Key Marketing Strategies of Gojek

    Gojek Logo
    Gojek Logo

    Gojek marketing strategy includes the following strategies:

    Product Strategy

    Vikrama Dhiman, head of Product, Gojek interviewed about the progress of an on-demand company- Gojek with the help of Product strategy. As said, Every business exists for a reason- Profit, which is merited only when the business renders products & services to people.

    Hereby, Gojek implemented a product strategy in the right way- Releasing product at the time of high demand, ameliorate the product’s features in order to compete in the market, track user flow & design the product according to their preferences.

    Besides, Gojek highly underscores on developing technical specifications as the company relies 90 percent on the online platform for its services, especially during this ongoing pandemic.

    Pricing Strategy

    Business should be very chary in pricing the product & services in order to survive in the market. If the company plans to lower its price in the services which will reflect augmenting in customers but challenging to accomplish the purpose of business- Profit.

    On the other hand, pricing the products higher brings fewer customers and ultimately leads to no services and profit. Gojek repudiated the price war in their business, as they have lost a hefty amount of funds to establish stable finances. Since its incorporation, Gojek initiates its services at an affordable price especially in GoRide and sometimes renders service without expecting any returns.

    Distribution Strategy

    Gojek burgeoned its distribution channel in more than 167 cities in Indonesia. The company has become a pioneer of omnichannel applications that connects customers to access various products & services via the online and offline platform. Moreover, the company implemented omnichannel by setting up offline booths, drop-offs sites in the supermarkets, collaboration with other e-commerce and availability to order from Gojek websites.

    Promotion Strategy

    Producing and selling the products is a predicament task for a business, for that they should be cognizant about the upcoming product to the targeted audiences, notably, promoting is the only way to entice customers as well as make them acquire the products.

    Promotion subsumes- advertising, sale promotion, selling, direct marketing and publicity. Therefore, Gojek created brand awareness by customizing & personalising the products and services, Providing bolsters to other brands to build an affiliate relationship, social sharing to attract netizens, and improving products & services by analysing feedback.

    Social media strategy

    Gojek on Instagram
    Gojek on Instagram

    Gojek has indeed been active in all social media by managing and creating content related to daily posts and the proclaiming of larger campaigns. They are involved in various online events by utilizing current trends of the digital world.

    Furthermore, the company constantly observes & tracks new social media tools, engage with other brands ambassadors, gathering insights that will hype the content and brainstorming the targeted audience to persuade them to make a purchase.

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    Segmenting, Targeting, and Positioning Strategy of Gojek

    Monthly Active Users of Gojek
    Monthly Active Users of Gojek

    Gokej always aims to set their geographical segmentation in the most populated urban areas to entice potential customers, for example in islands of Java, Bali etc. Additionally, the company set up various offline shops for multiple needs and varied retailers & service providers engaged at each shop.

    Gojek targets citizens who have the potential to earn Gojek services, mostly they attenuate on urban people as they seek transport, shopping services, payment services and so on.

    Gojek Positioning helped the company to grow even more high heights, by developing essential products for particular segments. For instance, the company currently operates in seven countries, and they attenuate more transport services in Indonesia.

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    Gojek Prominent Marketing Campaign

    There is always space for improvement and Gojek is making sure that they are filled properly. And the only and important way to get to know the issues is by directly getting suggestions from the customers.

    The company’s current campaign took place in Singapore, their first international campaign was a huge success and the people loved their idea of creating frictionless rides. During their campaign, the company has also revealed the logo of their new brand through a visual conceit of a city.

    Gojek Marketing Strategy in Covid 19

    Gojek’s 3 step strategies have come into use in recent times. And has been helpful for the people and partners during the enforcement of PSBB in Jakarta until April 23, 2020.

    Their first step is they have broadened the service for food, staples and other daily urgencies. They are delivering food to an utmost distance of 25Km.

    Secondly, they are providing services to the “COVID-19 prevention points” also, to help the people who have to travel for work or other important things.

    The final one is to help the micro, small, and medium enterprises (MSMEs) to reap during these pandemics.

    FAQs

    Who is the founder of Gojek?

    Nadiem Makraim, Kevin Aluwi, and Michaelangelo Moran founded Gojek in 2010.

    What is the revenue of Gojek?

    The estimated annual revenue of Gojek is $1 billion.

    Which is the parent company of Gojek?

    GoTo is the Gojek’s parent organization.

    Where is Gojek headquarters?

    Gojek is headquartered in Jakarta, Indonesia.

    What services does Gojek offer?

    Gojek offers services like:

    • Transport
    • Payments
    • Food delivery
    • Logistics

    What is the target market of Gojek?

    Gojek target market includes people of the age group –18 to 34 years old.

  • Gojek – A SuperApp that has Everything from Transport to Food Delivery

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Gojek.

    While Indonesia’s digital economy is predicted to rise to $124 billion by 2025, according to a 2020 research by Google, Temasek Holdings, and Bain & Company, the country’s 18,000 islands are spread across a region larger than the European Union, making it highly costly.

    As rivals bulk up in the fast-expanding market, Indonesian ride-hailing and payments provider Gojek and e-commerce leader Tokopedia are merging to form GoTo, a multi-billion dollar internet corporation. Gojek, based in Jakarta, is an Indonesian on-demand multi-service and electronic payment tech company.

    Gojek – Company Highlights

    Company Name Gojek
    Also known as Aplikasi Karya Anak Bangsa
    Parent Company GoTo
    Headquarters Jakarta, Indonesia
    Industry Technology
    Founded 13 October 2010
    Founders Nadiem Makarim, Kevin Aluwi and Michaelangelo Moran
    Areas Served Indonesia, Vietnam, Thailand, Singapore, Philippines, India, and Malaysia
    Website www.gojek.com

    Gojek – Latest News
    About Gojek and How it Works?
    Gojek – Name, Logo and Tagline
    Gojek – Mission and Vision
    Gojek – Founder and History
    Gojek – Products
    Gojek – Business Model
    Gojek – Revenue and Growth
    Gojek – Partnerships
    Gojek – Funding and Investors
    Gojek – Investments
    Gojek – Acquisitions
    Gojek – Awards and Recognitions
    Gojek – Competitors
    Gojek – Challenges Faced
    Gojek – Future Plans
    Gojek – FAQs

    Gojek – Latest News

    As of May 2021, Indonesian ride-hailing and payments provider Gojek and e-commerce leader Tokopedia are merging to form GoTo, a multi-billion dollar internet corporation.

    The merged company will be Southeast Asia’s largest privately-owned technology enterprise, spanning online shopping, courier services, ride-hailing, food delivery, and other services. By the end of 2021, it intends to go public in Indonesia and the USA. The firms claimed in a joint statement that their previous aggregate worth was $18 billion, based on fundraising in 2019 and early 2020.

    The combination of Gojek and Tokopedia, both of which are backed by global heavyweight investors, comes amid increased competition in Southeast Asia’s ride-hailing and food-delivery businesses. Food delivery, e-commerce, and e-payments are all on the rise as a result of the pandemic’s forced confinement.

    About Gojek and How it Works?

    Gojek (also known as Aplikasi Karya Anak Bangsa) is a company that creates on-demand smartphone apps for ride-hailing and a number of other services. The company’s app offers services such as transportation and logistics, food ordering and delivery, digital payment, shopping, news, and entertainment, among others, allowing customers to access travel, logistical support, and a variety of other activities with only a few taps on their smartphones.

    Gojek started out as a call center in Indonesia in 2010, connecting customers with courier delivery and two-wheeled ride-hailing businesses. GoRide, GoSend, GoShop, and GoFood were the only 4 services available when the app was first released in 2015.

    Gojek, which is now valued at $10 billion, has evolved into a super app that offers over 20 different services. GO-Academy, a software development training program, is also part of the corporation.

    Gojek – Name, Logo and Tagline

    Because the company’s name is derived from the Indonesian word Ojek, which means “motorbike,” the online service’s first logo portrayed a man riding a motorbike.

    Gojek' s Company logo
    Gojek’ s Company logo

    Michaelangelo Moran, the co-founder, is also noted for designing the firm’s first distinctive logo and branding the entire company, in addition to working as the business’s Brand Director.

    Gojek introduced its new company logo on July 22, 2019. Gojek’s s new brand logo, dubbed “Solv,” symbolizes the company’s evolution from a ride-hailing service to a super app that offers a number of clever methods to minimize difficulties.

    The Gojek brand was introduced with the tagline ‘Cerdikiawan.’ Cerdik connotes dexterity and a positive sense of time. It reflects, according to the creators, how the company solves problems for Indonesia despite the challenges it faces.

    Gojek – Mission and Vision

    Gojek’ s mission statement states, “Gojek is dedicated to creating and scaling up positive socio-economic impact on the ecosystem of users, driver-partners, business and micro-small-medium enterprise partners, as well as service providers.“

    Gojek – Founder and History

    Founded in 2010 with 20 motorcycle riders, the company now has a fleet of over 1 million drivers and, as of May 2018, offers 18 app-based on-demand services. The Gojek app was released in January 2015, and it has approximately 30 million downloads in less than two years. Gojek has teamed up with DBS, Singapore’s largest bank.

    Nadiem Makarim - Co-founder of Gojek
    Nadiem Makarim – Co-founder of Gojek

    Nadiem Makarim, Kevin Aluwi and Michaelangelo Moran co-founded the company Gojek. Nadiem holds degrees from Brown University and Harvard Business School and is an Indonesian native. He spent three years at McKinsey and Co-consulting before founding Gojek, which began as a small phone center with just 20 ojek drivers who ultimately became recruiters.

    Nadiem noticed as a frequent ojek user that ojek drivers spend the majority of their time waiting for passengers, while clients waste time walking around looking for an open ojek. Gojek was created to address this issue by creating a platform that allows drivers and riders to connect quickly and earn more money.

    Gojek’ s edge in negotiating the local regulatory framework and understanding the local market stemmed from the fact that it was founded and controlled by Indonesians. As a result, they were able to include features in their app that benefit both local drivers and local consumers. In 2017, Gojek brought on board 100 additional engineering graduates from India.

    Gojek – Products

    • Go-Pay is the fourth largest e-wallet service in Indonesia.
    • GoRide is Indonesia’s first online motorbike taxi service.
    • Go-Car is a car ride-hailing service.
    • Customers can use the Go-Blue Bird app to request Blue Bird cabs.
    • GoFood is an instant meal delivery service in Indonesia with over 250,000 merchants. Go-Food Festival is a Go-Food-branded offline food-court concept that sells food and beverages from Go-Food vendors.
    • Go-Mart is an app that allows you to shop for groceries at supermarkets that are listed in the Gojek app.
    • Go-Shop, like Go-Mart, allows users to buy items from stores that aren’t listed in Go-Mart.
    • Go-Transmit is an on-demand courier service that allows you to send things and documents inside a single delivery zone with no distance restrictions.
    • For moving heavy products utilizing pickup trucks, single-axle trucks, and single-axle box trucks, Go-Box is identical to Go-Send.
    • Go-Tix is a mobile app that sells entertainment tickets.
    • Go-Med is a mobile app that offers a medication delivery service, has teamed up with HaloDoc to develop the “Apotik Antar” functionality.
    • Customers can request a personal masseuse with Go-Massage.
    • Go-Clean is a professional house cleaning service that operates through an app.
    • Go-Glam is a personal hairdresser app that also offers nail care, waxing, and facial services.
    • Go-Auto is an app-based auto maintenance service that includes car cleaning and emergency repairs.
    • Go-Pulsa is a phone credit top-up service that operates through an app. Only
    • Go-Pay can be used to pay for Go-Pulsa.
    • Go-Bills is a service that allows you to pay your PLN electricity bills, buy PLN electricity tokens, and pay your BPJS insurance premiums all in one place.
    • Gojek’s loyalty program is called Go-Points. Each transaction earns the user a token, which they can exchange for prizes in the app.
    • Go-Play & Go-Studio: The company announced plans to enter the Internet content market through Go-Play, a video streaming service, and Go-Studio, a production firm. In September of this year, GoPlay will formally start its service.
    • Go-Pertamina is an on-demand fuel delivery service in conjunction with Pertamina, Indonesia’s largest oil company. It delivers fuel from the nearest Pertamina gas station to users.
    • Go-Nearby is a directory service that connects Go-Food merchants with clients of Go-Jek.

    Gojek – Business Model

    The Gojek business model works on:

    • Commissions from Companies – Several businesses join Gojek in order to benefit from its seamless operation and increased sales. Gojek, in turn, takes a modest commission on each successful order placed through the app.
    • The consumers’ commission – Gojek is a one-stop shop for its customers, offering a convenient answer to a wide range of issues. It avoids the hassle of having to switch between apps to meet various demands. Gojek also charges a little price on each order for this service, which users are happy to pay in exchange for Gojek’ s convenient and trustworthy services.
    • The Drivers’ Commission – For each order they deliver, individual drivers or delivery partners with Gojek pay a tiny commission to the platform. Given the benefits that the platform provides to drivers, a tiny commission fee seems like a good deal.

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    Gojek – Revenue and Growth

    Gojek’ s adventure has been incredible. Over the last few years, the startup has experienced significant growth.

    Gojek reported that the value of its annualized gross transaction value in 2020 will be USD 12 billion, up 10% from 2019. The year 2020 saw an almost threefold increase in GoPay transactions and the pay-later services.

    “What is suddenly booming is our online investment feature, probably because people find it easy to access,” said Gojek’s co-CEO Andre Soelistyo.

    The company’s grocery service showed a fivefold spike in annualized GTV, indicating that more people are relying on it for shopping during the pandemic. The number of merchants registered with GoFood surged by 80% to 900,000. This year, Gojek did not reveal which vertical contributed the most to its revenue.

    Gojek – Partnerships

    It established a partnership with Blue Bird, a large Indonesian taxi firm, in 2016. It also launched Go-Car, which expanded ride-hailing from motorcycles to vehicles, and Go-Auto, which provides on-demand mechanic services, in the same year. It was Indonesia’s first online transportation system by August 2016.

    It teamed with Google Maps to handle their GPS. Entertainment, Google Play, and MNC Vision are among the other collaborations. Suzuki Finance Indonesia, AEON Credit Service, and Bill Payment PLN, the national electricity supplier, and BPJS Kesehatan, the national health insurance provider.

    Gojek is teaming up with Unilever in September 2020. Gojek has partnered with Unilever through the freshly launched GoToko as part of this relationship. GoToko is a B2B digital platform that connects Indonesian MSMEs with global consumer products corporations.

    Gojek – Funding and Investors

    Date Round Amount Lead Investors
    May 10, 2021 Corporate Round $300M Telkomsel
    Nov 17, 2020 Corporate Round $150M Telkomsel
    Jun 3, 2020 Series F $375M Facebook, PayPal
    Mar 10, 2020 Series F $1.2B Mitsubishi Corporation, Mitsubishi Motors, Mitsubishi UFJ Financial Group, Visa
    Mar 4, 2019 Series F $100M PT. Astra International Tbk
    Oct 30, 2018 Series F $920M Google, JD.com, Tencent
    Feb 12, 2018 Series E $1.5B Tencent
    Aug 4, 2017 Series E – –
    Aug 4, 2016 Series D $550M Kohlberg Kravis Roberts, Warburg Pincus
    Apr 1, 2016 Series C $170M –

    Gojek – Investments

    Date Organization Name Round Amount
    May 12, 2021 MPPA Post-IPO Secondary IDR144.9B
    Mar 9, 2021 LinkAja Series B –
    Dec 18, 2020 Jago Post IPO-Equity $160M
    Feb 17, 2020 Blue Bird Group Corporate Round $30M
    Jan 29, 2020 ZULU Corporate Round –
    Jul 1, 2019 rebel Foods Series D $125M
    May 7, 2019 Safeboda Series B –
    Feb 3, 2019 JD.ID Venture Round –
    Oct 31, 2018 escapex Funding Round –
    Aug 10, 2018 PasarPolis Series A –

    Gojek – Acquisitions

    Acquiree Name About Acquiree Date Amount
    WePay WePay is an online payments services provider. Sep 14, 2020 –
    Moka Moka is an Indonesian fintech startup that focuses on building mobile point-of-sale (mPOS) for small and medium businesses. Apr 20, 2020 $130M
    AirCTO AirCTO is an AI-powered recruitment platform that helps companies recruit top developers. Jun 12, 2019 –
    Coins.ph Coins.ph delivers financial services over mobile to people who are currently unserved by traditional banks. Jan 18, 2019 $72M
    Promogo Promogo is a platform that enables brands to advertise on the body of individually owned vehicles. Sep 17, 2018 –
    PT RUMA To increase dignity, income, and access for the poor through technology. Dec 25, 2017 –
    Midtrans Midtrans empowers eCommerce through technology. Dec 15, 2017 –
    Kartuku Kartuku is a third party processor and payment service provider delivering end-to-end, mission critical payment solutions in Indonesia. Nov 15, 2017 $50M
    LOKET LOKET is the first event management platform in Indonesia that gives the freedom of selling tickets on one’s own website. Aug 8, 2017 –
    Leftshift Technologies We build loveable products for iOS and Android Nov 8, 2016 –

    Gojek – Awards and Recognitions

    Gojek is the only firm from Southeast Asia to reach Fortune’s list of “56 Companies That Changed the World” for 2017. Gojek was the first Southeast Asian firm to be named twice in Fortune’s Top 50 Firms That Changed The World list, rising to number 11 out of 52 global companies in 2019.

    Other international honors include the Top Performer in ASEAN Award in 2017, Ernst & Young’s Entrepreneur of the Year Award, and the Superior Products and Services Award in 2016.

    Among the national honors are –

    • Top 15 Most Valuable Indonesian Brands 2019,
    • Top 3 Brand Performer and Top 3 Most Powerful Transportation/Logistic Brands,
    • Top 3 Netizen Choice in Online Transportation,
    • The BrandZ Top 15 Most Valuable Indonesian Brands 2019,
    • The BrandZ Top 15 Most Valuable Indonesian Brands 2019,
    • The BrandZ Top 15 Most Valuable Indonesian Brands 2019,
    • The BrandZ Top 15 Most Valu Best Indonesia Mobile App 2015,
    • Best Startup Category Work Life Balance,
    • Most Admired CEO in Indonesia 2017, and
    • Most Creative in Solving Economic Challenges 2017.

    Gojek – Competitors

    The top competitors in Gojek’s competitive set are Lyft, Grab, Uber, ComfortDelGro, Gett, MOIA, Ryder, Easy Taxi Services, and Space Neobank.

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    Gojek – Challenges Faced

    Grab has dominated the ride-hailing sector in Singapore since the Grab-Uber merger. Grab will have to enhance its service quality now that Gojek, an Indonesian startup, has joined the Singapore market. One of the biggest issues Gojek is facing is a driver shortage, as many self-employed drivers are now listed with Grab.

    Gojek is looking forward to organize driver recruitment efforts and offer larger incentives to potential drivers in order to overcome this. Allowing drivers to withdraw money from their virtual wallets is one of them, as is a points system that can be converted into cash and a minimum hourly wage.

    Another issue that Gojek is dealing with is a lack of demand. With so many transportation alternatives in Singapore, Gojek will have to rethink its product to stand out from the crowd. To address this, Gojek will need to expand its service offerings, such as its proposal to offer housecleaning services.

    Gojek’s quick expansion and market dominance have sparked widespread media attention, as well as criticism from traditional taxi and ojek providers. The Minister of Transportation briefly stopped Gojek and other ride-hailing firms from operating. The restriction was met with widespread opposition, with the hashtag #SaveGojek becoming Indonesia’s most popular trending subject on Twitter.

    The ban was removed the same day when President Joko Widodo denounced it, saying that the government should not limit innovation and that the prohibition will have a negative impact on the lives of many Indonesians who rely on Gojek’s services. Budi Karya Sumadi, Indonesia’s Minister of Transportation, enacted a new regulation for online taxis in October 2017. The former PM 26, which regulated the use of private cars for public transportation, was replaced by PM 108.

    Gojek – Future Plans

    A new ride-hailing service has launched. Gojek plans to expand its operations outside of Indonesia this year, according to co-CEO Kevin Aluwi.

    “Over the last few years, we’ve definitely invested relatively smaller amounts in our markets outside of Indonesia. But, we think this is the year where we really want to spread our wings and be a regional and global business,” Aluwi, founder of Gojek, added.

    Gojek began as a ride-hailing service in Indonesia in 2010 and has subsequently expanded into food delivery, digital payments, and logistics. It now has a presence in over 200 cities across five Southeast Asian nations, with Indonesia remaining its most important market.

    Aluwi also declined to comment on “merger speculations,” saying Gojek’s priority is to grow its business. Gojek is “extremely optimistic” about 2021, he added.

    “We do think that 2021 is going to be a growth year and, more importantly, we spent 2020 really investing in a lot of the business and product and operational fundaments, such that profitability and long-term sustainability looks meaningfully better year-over-year,” he said.

    Gojek – FAQs

    What does Gojek do?

    Gojek is a company that creates on-demand smartphone apps for ride-hailing and a number of other services. The company’s app offers services such as transportation and logistics, food ordering and delivery, digital payment, shopping, news, and entertainment, among others, allowing customers to access travel, logistical support, and a variety of other activities with only a few taps on their smartphones.

    Which country is Gojek based in?

    Gojek is an Indonesian company.

    Who founded Gojek?

    Nadiem Makarim, Kevin Aluwi and Michaelangelo Moran co-founded the company Gojek.

    How does Gojek make money?

    On each successful order placed using the app, Gojek charges a tiny commission fee. Gojek is a one-stop-shop for its customers, offering a convenient answer to a wide range of issues. It saves time by eliminating the need to switch between apps to meet different demands.

    Which companies do Gojek compete with?

    The top competitors in Gojek’s competitive set are Lyft, Grab, Uber, ComfortDelGro, Gett, MOIA, Ryder, Easy Taxi Services, and Space Neobank.