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Go-Jek is Now Officially Indonesia’s First Decacorn

Decacorn

The international research institution, CB Insights, has named Go-Jek the country’s first decacorn, with a valuation of US$10 billion. The information was unveiled in its report, The Global Unicorn Club. Go-Jek, which is Indonesia’s famous ride-hailing app start up, ranks 19th in the report, just below its competitor, Grab, at US$11 billion.

Nila Marita, Go-Jek’s Chief of Corporate Affairs, said that the company is elated to hear the good news. She also stated that she was grateful that an independent institution had validated Go-Jek’s success. This further removes the company’s obligation to announce the good news to the public, which in turn, develops the market value.

Nila added that Go-Jek has the largest market segment among the competing e-commerce service providers. This was evident in its average Weekly Active Users statistics released by a global platform, which analysed global mobile application users. Nila accredited Go-Jek’s popularity to the trust given by investors. Over time, Go-Jek has also has a social impact and contributed towards the economy. The report also revealed that consumers are 55 per cent more likely to use Go-Jek than other similar platforms in Indonesia. Go-Jek’s current goal is not only the Indonesian market, but also the Southeast Asian market in general.

In the 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.

Source: Tempo
Image: Liputan 6

See:  What Foreign Startups Can Learn from Go-Jek’s Business Strategy

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