Go-Jek is one of the fastest-growing and most visible tech startups in Indonesia. It uses previously informal motorcycle taxis — ojeks — to courier, transport and provide shopping services to its users. Instead of heading out into congested streets, people now simply use the Go-Jek mobile app to book a motorbike taxi, order a food delivery or even door-to-door cleaning services, beauticians and masseuses. After partnering with some of Indonesia’s biggest banks, the firm is in the process of making its payment system cash free.
How they’re disrupting
This mobile app service now has some 200,000 freelance drivers, and millions of downloads. Its success is down to the huge congestion in Jakarta. The capital of Indonesia has an estimated population of more than 10 million people and is home to about 18 million vehicles.
The disruption potential is enormous. Currently, the average speed a car can travel across Jakarta is about 8kmh, a situation economists agree is hurting the city’s growth capacity. Business visitors say they usually schedule just one meeting per day as the traffic is too bad to accommodate two. The motorcycle taxis are changing that rapidly.
Investments and future
After undisclosed Venture funding back in 2015 from Sequoia Capital among others, Go-Jek landed $550 million in private equity in August 2016 from a total of 10 separate investors.
Since applications for Disrupt 100 closed, Go-Jek received a whopping $1.2 billion in funding from Tencent Holdings, taking its valuation to well over $1 billion. The company now plans to expand across large SE Asian cities and further afield.