You are here: Home » PTI Stories » National » News
Business Standard

Indonesia's Go-Jek enters Singapore market, challenges Grab

AFP  |  Singapore 

Indonesia's launched a trial version of its ride-hailing taxi app in Thursday, ahead of a full entry planned early next year as it aims to take on

is in the middle of a $500 million expansion plan beyond its Indonesian base with a focus on Southeast Asia, and has recently introduced services in and

It operates a fleet of motorcycle taxis, private cars and other services -- from massage and house cleaning to grocery shopping and delivery -- available via smartphone, although the launch will only offer

"Today marks the journey for us to be in so we are super excited, super humbled," told reporters.

The Singapore market has been dominated by homegrown tech firm since it bought US-based rival Uber's ride hailing and business in earlier this year, ending a bruising competition.

In return received a 27.5 percent stake in

Singapore's anti-monopoly watchdog fined both Grab and for breaking competition rules during the merger.

Soelistyo said Go-Jek's arrival would help to ensure "healthy competition".

Go-Jek's beta app was due to be available for download from Thursday to a limited number of customers, and will only cover a designated part of the city-state.

Beta versions are used to test and gain feedback from a restricted number of users before full service begins.

Go-Jek has partnered with Singapore's biggest DBS, hoping to tap into the lender's customer base to drive market share, and offering benefits to its customers in return.

Go-Jek has won financial backing from investors including Google, Singapore's sovereign wealth fund and Chinese

Southeast Asia's ride-hailing market is expected to reach $20 billion by 2025, according to research by and

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 29 2018. 12:46 IST
RECOMMENDED FOR YOU