Saturday, 22 February 2020

Named as RI's First Decacorn, Go-Jek: We Have the Largest Market

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Markus Wisnu Murti

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  • President Joko Widodo or Jokowi shakes hands with Go-Jek CEO Nadiem Makarim during the launch of Go-Viet at Melia Hotel, Hanoi, Vietnam on Wednesday, September 12, 2018. (Photo: Press Bureau of Presidential Secretariat)

    President Joko Widodo or Jokowi shakes hands with Go-Jek CEO Nadiem Makarim during the launch of Go-Viet at Melia Hotel, Hanoi, Vietnam on Wednesday, September 12, 2018. (Photo: Press Bureau of Presidential Secretariat)

    TEMPO.CO, Jakarta - Ride-hailing application company Go-Jek has become Indonesia’s first decacorn with a valuation of US$10 billion as announced by the international research institution CB Insights in its report The Global Unicorn Club. Go-Jek ranked 19th below its competitor, Grab, at US$11 billion.

    Go-Jek Group's chief of corporate affairs, Nila Marita, said her company had just heard of the news, and that she was grateful that an independent institution validated Go-Jek's success “in developing the value without us needing to make the announcement,” said Nila via Whatsapp message on Friday, April 5.

    Nila said Go-Jek indeed had the largest market segment among the other e-commerce service providers. This was evident in its average Weekly Active Users released by a global platform that analyzed global mobile application users. 

    ReadGo-Jek, Astra Form Joint Venture to Develop Go-Car

    “The success of Go-Jek's on-demand service platform is seen from the stronger interest and trust of investors towards the mission, development as well as soaring economic and social impact of Go-Jek over the time,” Nila said, adding that the app was 55 percent higher than the similar platform in Indonesia based on the same platform study.

    Nila continued to say that Go-Jek was not only focusing on becoming the main choice and furnishing the best services for users in the country, but also determined to make Indonesia the leading player in the Southeast Asia market.

    In its report, CB Insights also listed two local startups, Tokopedia and Traveloka, in the unicorn category. Both have a valuation of US$7 billion and US$2 billion, respectively.

    EKO WAHYUDI | RAHMA TRI | CB INSIGHTS