That’s the headline of a story out Thurs. that I wrote with my colleage P.R. Venkat. It begins:
Motorcycle-taxi service PT Go-Jek Indonesia will invest $500 million to expand its operations in Southeast Asia, revving up competition in a fast-growing consumer market just two months after Uber Technologies Inc. reached a landmark deal to exit from the region.
The Indonesian company said in a statement Thursday it plans to enter Vietnam, Thailand, Singapore and the Philippines in the next few months and is currently working with regulators and stakeholders across the region.
Go-Jek will initially offer motorcycle-hailing services in Vietnam, Thailand and the Philippines, and provide traditional taxi services in Singapore, where motorcycle taxis aren’t permitted, a company spokesman said. The move, in effect, puts Go-Jek in direct competition with regional market leader Grab Inc.
Click through to read the rest.
- Newley’s Notes 136: Go-Jek Expands; Theranos Exposed; Gareth Bale = Genius
- By Me and a Colleague Wed.: Uber to Launch Motorbike Service in Bangkok
- Scoop Mon. With Colleagues: Indonesia’s Go-Jek in Talks to Raise $1 Billion
- Uber Agrees in Principle to Exit Southeast Asia for Stake in Rival
- By Me Last Week: GrabTaxi Is Becoming Grab