Late Stage Mature Pre IPO Unicorns -

Go Jek

Started in 2015 in Indonesia as an on-demand motorcycle ride hailing and delivery service, GOJEK today has evolved into the leading ride-hailing, food delivery, and mobile payments platform in Southeast Asia. The GOJEK app provides more than 15 different on-demand services from ride-hailing to buying movie tickets and is the global pioneer of the on-demand superapp.

The platform today provides for the livelihoods of more than 2 million driver partners and 500,000 merchant partners all across Southeast Asia.

From Wikipedia

Go-Jek (known in Vietnam as Go-Viet and Thailand as GET) is a transportation network company and logistics startup companybased in JakartaIndonesia. It is the first unicorn company,[1]and also the first Decacorn company in Indonesia[2].It is the only company in South East Asia that is included in Fortune‘s 50 Companies That Changed the World in 2017, and ranked at 17 along with Apple Inc. (3rd), Unilever (21st), and Microsoft (25th).[3] Go-Jek operates in Indonesia, VietnamSingaporeThailand and will soon operate in the Philippines and Malaysia.[4][5][6][7]As of February 2019, the estimated value of the company is about US$10 billion[8].

Go-Jek ranks in Top 10 most Powerful Brands in Indonesia[9] and Top 3 Most Powerful Transportation/Logistic Brands.[10] Go-Jek has won financial backing from investors including Google, Singapore’s sovereign wealth fund Temasek Holdings and Chinese internet giant Tencent.[11]The company also has investment in Pathao, a transportation network company operating in Bangladesh.[12][13]

The name Go-Jek comes from the term “Ojek” or motorbike taxis[14] commonly found throughout Indonesia. Founded in 2010 with 20 motorbike drivers,[15] its fleet now exceeds 1 million drivers and offers 18 app-based on-demand services as of May 2018.[16][17] Go-Jek app was launched in January 2015,[18] and in less than two years, the app racked up nearly 30 million downloads.[19] Go-Jek has partnered with Singapore’s biggest bank DBS[20]

Go-Jek was founded by Nadiem Makarim, a native Indonesian, who holds degrees from Brown University and Harvard Business School. He worked at McKinsey and Co. consulting for three years[21] before starting Go-Jek from a tiny call centre with only 20 ojek drivers, who later became recruiters.[22] As a loyal ojek user, Nadiem discovered that ojek drivers spend most of their time waiting for customers, while customers waste time walking around looking for an available ojek. Go-Jek was built to solve this problem, by providing a platform where drivers and riders can connect efficiently and allowing those drivers to improve their income.[10]

As of May 2018, the app offers 18 services,[23] with 2 upcoming new services in the online content business,[24][25] which makes for a total of 20 on-demand services under one platform. Being an Indonesian-run startup played to Go-Jek’s advantage in navigating the local regulatory environment, as well as understanding the local market. This enabled them to bundle features into its app that better suits both local drivers and local consumers.[26]Go-Jek recruited 100 new graduates in engineering domain from India in 2017.[27]