Go-Jek https://dev.traveldailymedia.com/tag/go-jek/ Informing, connecting and developing the world’s travel industry professionals. Wed, 04 Jan 2023 06:50:25 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 Is Uber copying Grab, Go-Jek? https://dev.traveldailymedia.com/is-uber-copying-grab-gojek/ Mon, 18 Nov 2019 01:21:10 +0000 https://www.traveldailymedia.com/?p=528170 The post Is Uber copying Grab, Go-Jek? appeared first on TD (Travel Daily Media) Brand TD.

Uber may have created the concept of ride-hailing, but it seems that it is trailing behind its Asian counterparts when it comes to growth. In recent months, Uber has been mirroring the strategies of Grab and Go-Jek – the two super apps in Southeast Asia.

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The post Is Uber copying Grab, Go-Jek? appeared first on TD (Travel Daily Media) Brand TD.

Uber may have created the concept of ride-hailing, but it seems that it is trailing behind its Asian counterparts when it comes to growth. In recent months, Uber has been mirroring the strategies of Grab and Go-Jek – the two super apps in Southeast Asia.

Both Grab and Go-Jek’s core business is mobility, but the two slowly branched out to other services ranging from delivery to financial and lifestyle services to increase their revenue. Currently, the two are battling it out in SEA.

Uber’s early growth strategy is straightforward, which is to replicate what it had done in the US market. Uber used to think that all markets are identical to the US. However, Uber did not take into account local preferences such as mode of payment and the price point. In March 2018, Uber raised the white flag and sold its business in Southeast Asia to Grab in exchange for a 27.5% stake in the company and a seat on its board.

Although it lost in SEA, Uber seems to win in the Middle East with the acquisition of Careem for USD 3.1 billion, which is the largest exit by a tech start-up in the region. Uber will acquire Careem’s mobility, delivery and payments business but the latter will maintain its independence. The deal is expected to close in early 2020.

Last month, Uber has announced that Uber Money, the financial arm of the company. These efforts will include an upgrade of its credit and debit cards, as well as a new digital wallet. The first initiative is for its four million drivers to have access to a mobile bank account to be paid in real-time. Uber Wallet will enable riders and drivers to store earnings, track their transaction history and make electronic payments. Apple Pay and Google Pay will be integrated with the service in early 2020, enabling drivers to spend their earnings immediately.

Uber also announced its plans to acquire majority ownership of Chilean-based Delivery Technologies SA, better known as Cornershop, which is an on-demand grocery delivery service for the Latin American market. The platform allows shoppers to find and buy groceries online from different supermarkets and specialty stores and have them delivered straight to their homes.

These recent efforts are to generate new revenue streams to increase profit, which is important now that they are a public company. Uber has barely generated any profit for it has prioritised the company’s growth. Shareholders will surely demand Uber to return their investments and expanding horizontally could be the key to generate profit quickly.

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Go-Jek receives funding from AIA Group https://dev.traveldailymedia.com/go-jek-receives-funding-from-aia-group/ Fri, 20 Sep 2019 02:53:02 +0000 https://www.traveldailymedia.com/?p=520372 The post Go-Jek receives funding from AIA Group appeared first on TD (Travel Daily Media) Brand TD.

Indonesian unicorn Go-Jek has secured an unspecified amount from insurance firm AIA Indonesia as part of its ongoing Series F funding round. The investment also comes with strategic partnership between the two companies.

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Indonesian unicorn Go-Jek has secured an unspecified amount from insurance firm AIA Indonesia as part of its ongoing Series F funding round. The investment also comes with a strategic partnership between the two companies.

AIA Indonesia will help Go-Jek with its financial and insurance services as users can now avail life and health insurance through the app. The partnership also aims to raise awareness of life and health insurance solutions in the country. “Our in-depth consumer knowledge and digital footprint across the country, combined with AIA Indonesia’s expertise in financial protection solutions, will enable the partnership to bring our users greater value through an expanded range of products and services,” said Go-Jek co-founder Kevin Aluwi.

Go-Jek’s current Series F funding round has pooled investments from Mitsubishi Motors Corporation, Mitsubishi Corporation, and Mitsubishi UFJ Lease & Finance. The tech company expects to close the funding round by the end of the year at USD 2 billion.

The ride-hailing company reportedly aims to invest the Series F funds across transport, food delivery, logistics, mobile payments, and merchant services businesses. It also plans to use proceeds to accelerate its market expansion across Southeast Asia, a market which has been dominated by the heavily-funded Grab.

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Travel tech this week: All about ride hailing https://dev.traveldailymedia.com/travel-tech-this-week-september-5-2019/ Wed, 04 Sep 2019 23:00:29 +0000 https://www.traveldailymedia.com/?p=518642 The post Travel tech this week: All about ride hailing appeared first on TD (Travel Daily Media) Brand TD.

This week, ride-hailing giants from the east are rolling out new services to propel their growth, while their western counterparts are suffering losses since going public.

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This week, ride-hailing giants from the east are rolling out new services to propel their growth, while their western counterparts are suffering losses since going public.

GoFitness

Men Practicing Yoga Outdoors

Indonesian unicorn Go-Jek has partnered with DOOgether, a fitness app that allows its users to book fitness classes in advance and find fitness partners, to roll out GoFitness.

Following to the latest trend in health and wellness, Go-Jek’s GoFitness aims to provide access for users to reserve wellness and sports classes such as yoga, pilates, pound fit, barre, Muay Thai, and zumba in hundreds of gyms and studios in Jakarta area to rival similar apps like ClassPass and GuavaPass.

“The launch of GoFitness is in line with our commitment to keep innovating in making users’ lives easier, from the moment they wake up in the morning until they rest at night,” said Head of Third Party Platform Gojek Group Sony Radhityo.

Grab data also revealed that more than 11,000 users recorded on the app making trips to gyms and sports studio every month and GoFood also recorded more than 600,000 portions of healthy food order; therefore, it is reasonable to launch this new service.

“We believe that technology has a big role in making lives easier. This is our way to actively participate in Indonesian sports industry,” DOOgether CEO Fauzan Gani said.

All time low

Uber and Lyft share hit their lowest close ever on Tuesday and investors are starting to lose confidence in the ride-hailing companies.

Uber closed down 5.7% to USD 30.70, falling below its previous low of USD 32.57 on 30 August. Earlier in the day, the shares hit an intraday all-time low of USD 30.67. Lyft experienced a similarly steep drop, ending the day down 7.2% to USD 45.42, compared to its previous low of USD 48.15 on 13 May. The stock dropped as low as USD 45.40 on Tuesday, touching a new intraday low.

The rivals have has a hard time keeping their stocks afloat since their respective IPOs earlier this year. Investors are growing sceptical whether Uber and Lyft will be in the black in the near future.

Uber reported a net loss of USD 5.24 billion for its second quarter of 2019, blaming stock-based compensation costs. By comparison, Lyft lost USD 644.2 million in the second quarter, representing a significant jump from the USD 178.9 million it lost a year earlier.

GrabGifts? GrabSalon?

True to its claim, Grab proves to be a “super app” as the ride-hailing giant will roll out new services in the next three months. The company is expanding its transport, logistics and lifestyle services by introducing Bus Marketplace, GrabExpress Nationwide Delivery, GrabSalon, GrabGifts, Videos and Hotels. The latest additions are expected to bring wider reach and greater convenience to its users.

“Our aim as the leading super app is to solve everyday problems so that Filipinos can do more. We are doing this by breaking daily limitations such as limited transportation solutions, disconnected systems and services, and lack of financial inclusion,” Grab Philippines president Brian Cu said.

“We then collaborate with partners to create a suite of connected services within one super app and help unlock the benefits of the digital economy to Filipinos,” he added.

Grab’s Bus Marketplace enables users to skip the long queue to buy tickets, which can be a pain, especially during holidays. The service also offers point-to-point (P2P) operations by Tas Trans and San Agustin for Glorietta 2-Nuvali and Glorietta 2-Southmall routes with trips every 30 minutes.

This month, Grab is expanding the service with a new provincial P2P bus service from Olongapo to Clark, and Clark to Dagupan with a local bus services provider, and Makati to Noveleta, Cavite with San Agustin.

Grab is also ramping up its GrabExpress service to include nationwide delivery in partnership with Ninja Van, whose network covers 95% of the Philippine population with over 9,000 riders.

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Amazon to augment SEA presence by investing in Go-Jek https://dev.traveldailymedia.com/amazon-to-augment-sea-presence-by-investing-in-go-jek/ Fri, 30 Aug 2019 01:08:47 +0000 https://www.traveldailymedia.com/?p=518229 The post Amazon to augment SEA presence by investing in Go-Jek appeared first on TD (Travel Daily Media) Brand TD.

Sources claimed that Amazon is reportedly in talks with Go-Jek for a plausible investment. This move could bolster the presence of the e-commerce giant in Southeast Asia.

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Sources claimed that Amazon is reportedly in talks with Go-Jek for a plausible investment. This move could bolster the presence of the e-commerce giant in Southeast Asia.

Amazon is reportedly keen to join the start-up’s ongoing funding round. Amazon’s investment to Go-Jek will be significant as it has zero presence in Indonesia, which is home to several unicorn start-ups and by far the region’s biggest and most promising market with 260 million people.

The two companies declined to comment as nothing has been set in stone yet.

However, Amazon’s Chinese rivals have made inroads in Indonesia after Alibaba Group Holding Ltd. spent billions of dollars to acquire online shopping company Lazada Group and invested in homegrown Indonesian e-commerce companies Tokopedia PT and Bukalapak. Tencent Holdings Ltd. has backed Sea Ltd., whose mobile shopping unit Shopee is battling fiercely with Lazada.

Go-Jek is currently holding its Series F funding round (valued at USD 10 billion), The start-up reportedly pooled investments from Visa Inc., Thailand’s Siam Commercial Bank Plc, Mitsubishi Motors Corp., Mitsubishi Corp. and Mitsubishi UFJ Lease & Finance Co. this year. The terms of those deals were not disclosed.

Go-Jek debuted its app for hailing motorbike taxis in Jakarta in 2015. Since then, the company has evolved into a “super app” — part ride-sharing service, part food-delivery business and part digital-wallet provider. It also offers a dozen other on-demand services such as booking a cleaner and medicine delivery.

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Go-Jek adds Visa as one of its investors https://dev.traveldailymedia.com/go-jek-investors-visa/ Thu, 18 Jul 2019 04:06:29 +0000 https://www.traveldailymedia.com/?p=512630 The post Go-Jek adds Visa as one of its investors appeared first on TD (Travel Daily Media) Brand TD.

Indonesian start-up superstar Go-Jek has announced that global payment technology provider Visa is the latest investor to back its ongoing Series F funding round.

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Indonesian start-up superstar Go-Jek has announced that global payment technology provider Visa is the latest investor to back its ongoing Series F funding round.

It did not disclose how much the American firm injected to the start-up. Visa will reportedly help Go-Jek improve its cashless payment options for its consumers across Indonesia and Southeast Asia. Visa will collaborate with Go-Jek e-wallet GOPAY.

Go-Jek President Andre Soelistyo said: “We’ve been humbled by investor support over the course of our current fundraising round as they have truly shown confidence in our long-term vision of powering the next phase of technology-enabled growth in Southeast Asia.”

“Visa’s investment in Go-Jek is an endorsement of our business model and reflects their belief in Go-Jek’s ability to improve the lives of people across the region through our services and payments ecosystem,” he added.

Last week, Go-Jek has announced that Siam Commercial Bank (SCB), which is Thailand’s largest lender by assets, invested in the ongoing Series F funding round. The deal will also see both players collaborating on the payments front for Go-Jek Thai affiliate, GET.

Launched in 2011, Go-Jek has evolved from ride-sharing to allowing its customers to make online payments and order everything from food to groceries and massage services. The start-up reportedly raised USD 1.6 billion prior the current funding round. The Indonesian company gathers fund to accelerate its expansion across Southeast Asia.

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Travel tech this week: Ride-hailing companies on the roll https://dev.traveldailymedia.com/travel-tech-this-week-june-20/ Thu, 20 Jun 2019 01:19:46 +0000 https://www.traveldailymedia.com/?p=508144 The post Travel tech this week: Ride-hailing companies on the roll appeared first on TD (Travel Daily Media) Brand TD.

This week, we turn our attention to ride-hailing companies that are taking over the world. From GoJek launching their social media accounts to Grab’s cancellation fines and to Uber’s JUMP V2, which is safer and easier to handle.

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This week, we turn our attention to ride-hailing companies that are taking over the world. From GoJek launching their social media accounts to Grab’s cancellation fines and to Uber’s JUMP V2, which is safer and easier to handle.

GoJek memes

GoJek Singapore has launched its Facebook and Instagram accounts and posted memes on relatable scenarios on our daily commute. On Father’s Day, the ride-hailing platform also posted an illustration of a dad “taking a backseat” with children.

The ride-hailing giant said it will post fun and educational posts that users will find useful. Moreover, the company will post videos, GIFs, memes, product updates and funky illustrations.

Last month, GOJEK Singapore recorded 10 million completed trips, after six months of operations. To thank Singapore driver-partners for their support and service, it launched a rewards programme called “Driver Milestones”. Drivers who have completed 1,000, 2,500 and 5,000 trips since GOJEK’s launch in Singapore will also be recognised with enhanced benefits and decals that mark their trip milestones.

A spokesperson of the ride-hailing company said that it has ongoing digital campaigns that are aimed at acquiring new drivers. The campaigns will outline the benefits of driving with GOJEK, such as earnings stability, protection, flexibility and driving experience.

Grab imposes fine on cancellations

On 17 June, Grab has started imposing fines on customers who cancel their trips. “Customers cancelling rides will be charged as of June 17, 2019, to reduce the number of cancellations,” Grab announced on its mobile application on Monday.

Grab has provided customers with five tips to reduce cancellations, either by drivers or customers.

  1. Make sure you are ready to be picked up before you place an order. For example, do not place an order while you are still in an elevator, have yet to finish your coffee or meal, or are still shopping or getting dressed.
  2. Make sure you provide the correct pick-up point and destination.
  3. Only place the order once you are already at the pick-up point. “Although the waiting time may be 10 minutes, ensure that there is a pick-up point and that the vehicle would not have to stop for too long,” it said.
  4. Add a message in GrabChat – the in-app messenger – stating your location and the outfit you are wearing to help drivers easily identify you.
  5. Use polite language, in Bahasa Indonesia, to avoid any misunderstandings.

“Let’s appreciate the time and effort by the drivers to pick you up. Let’s reduce the use of the cancel button together,” Grab said.

Uber JUMP Scooter

Uber has announced that it will be releasing a new scooter model and previewed a swappable battery for e-bikes that anyone, including riders, will be able to easily remove and replace.

JUMP Scooter V2 debuted at the 3rd annual Uber Elevate Summit. The new e-scooter was designed with a focus on safety: the scooter frame is bigger and more durable frame and has larger wheels so it can more easily navigate rough spots in the road. It also has a new hand brake lever that is the same style as the hand brakes you find on a bicycle. When applied, the brake engages both scooter wheels. It will begin appearing in scooter markets around the U.S. on the week of June 24th and arrive in Europe later this summer.

In addition, Rachel gave a preview of the swappable battery, a key feature of Uber’s next generation e-bike, which will be rolled out later this year. This will be the first e-bike Uber has ever released with a swappable battery that riders can replace.

“Uber is innovating new mobility hardware to make it safer and easier for people to choose bikes and scooters over cars. The more our technology can expand access to bikes and scooters, the greener and less congested cities will be. I was excited to preview our scooter V2 and battery features on our next generation bike at this year’s Elevate Summit,” said Rachel Holt, head of Uber New Mobility.

JUMP’s pedal assist e-bikes and e-scooters are available in over twenty cities globally. Users can find and unlock JUMP pedal-assist e-bikes and scooters within the Uber app. It’s simple to use.

Via Uber :

  • Tap the “mode switch” on the homescreen of the Uber app, and select bike or scooter.
  • You’ll see the available JUMP bikes and scooters around you, and can select one to reserve.

For more travel tech stories, click here.

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Go-Jek acquires another Indian start-up https://dev.traveldailymedia.com/go-jek-acquires-another-indian-start-up/ Thu, 13 Jun 2019 07:50:09 +0000 https://www.traveldailymedia.com/?p=507261 The post Go-Jek acquires another Indian start-up appeared first on TD (Travel Daily Media) Brand TD.

Ride-hailing giant Go-Jek turned to another Indian start-up to further its growth. The company announced that it has acquired AirCTO, a recruitment platform based in Gurgaon.

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Ride-hailing giant Go-Jek turned to another Indian start-up to further its growth. The company announced that it has acquired AirCTO, a recruitment platform based in Gurgaon.

Details of the deal are not disclosed. AirCTO’s platform uses a mix of AI and humans to help companies hire “top” developer talent. AirCTO’s entire team will join Go-Jek’s R&D workforce in India to develop “products that accelerate the recruitment of talent” within its ranks.

Go-Jek will reportedly put up a Gurgaon office to house its 500 tech staff that came from most of its acquisitions. AirCTO is Go-Jek’s 10th acquisition. The multi-billion dollar tech company has acquired C42 Engineering, Pianta and Leftshift Technologies prior to form an offshore R&D division.

Go-Jek is the midst of raising a round that it claims has already passed the USD 1 billion mark at a valuation approaching USD 10 billion.

Go-Jek vs Grab

Since Uber’s exit in Southeast Asia last year, the region has become the battleground of ride-hailing firms Grab and Go-Jek. Grab, backed by Softbank’s Vision Fund and valued at USD 14 billion, also has a presence in India.

Grab and Go-Jek are competing to become the region’s ‘super app.’ Therefore, the two tech companies steadily add new features and services. Those range from the obvious like food and grocery deliveries to messages, haircuts and other services on demand, and now even games, video streaming and other entertainment.

Grab operates in eight countries while Go-Jek, which finally forayed outside of Indonesia last year, is present in four.

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Go-Jek, Grab slapped with new regulation in Indonesia https://dev.traveldailymedia.com/go-jek-slaps-with-new-regulation-in-indonesia/ Thu, 09 May 2019 01:02:05 +0000 https://www.traveldailymedia.com/?p=503632 The post Go-Jek, Grab slapped with new regulation in Indonesia appeared first on TD (Travel Daily Media) Brand TD.

Ride-hailing company Go-Jek has seen a slight decline in passengers as the Indonesian government enforced a new tariff increase for app-based motorcycle taxis.

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Ride-hailing companies Go-Jek and Grab have seen a slight decline in passengers as the Indonesian government enforced a new tariff increase for app-based motorcycle taxis.

Starting 1 May 2019, the regulation is enforced in five cities in Jakarta (Jabodetabek), Bandung (West Java), Yogyakarta, Surabaya (East Java) and Makassar (South Sulawesi). The government’s new tariff is capped at USD 0.14 per kilometre, an increase from the previous Grab and Go-Jek tariff at USD 0.11 – 0.13 cents) per kilometre.

The regulation factors in provisions such as standard minimum fare of motorcycle taxis and customer protection or safety and stipulates that the minimum tariff should take into account a motorcycle taxi’s operational cost.

Despite this, the new government’s set tariff is far from what is deemed as ideal, say experts. The motorcycle drivers have long been proposing the minimum standard tariff USD 0.25 per kilometre.

“After implementing the regulation for the past three days since May 1, we saw a significant drop in the passengers’ orders, impacting our driver partners’ income,” Go-Jek chief of corporate affairs, Nila Marita, said in a statement.

In order to counter the implementation of the new regulation, Go-Jek needs to keep offering the promotional and tariff discount to maintain its number of passenger orders. However, the company said such moves are only good in the short term, but they don’t address the issue over the long term.

“We expect to maintain the sustainability of this industry, so that our driver partners are able to have sustainable income, while consumers can continue to enjoy safe, comfortable and quality services,” Marita added.

Meanwhile, Grab has expressed its utmost support to the government and its regulations.

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Go-Jek launches Go-Travel to counter Grab https://dev.traveldailymedia.com/go-jek-launches-go-travel-to-counter-grab/ Thu, 02 May 2019 03:29:30 +0000 https://www.traveldailymedia.com/?p=502583 The post Go-Jek launches Go-Travel to counter Grab appeared first on TD (Travel Daily Media) Brand TD.

Marking another milestone in Go-Jek and Grab’s intense competition, the two dove into the travel space by launching their respective hotel booking sites through their apps.

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Marking another milestone in Go-Jek and Grab’s intense competition, the two dove into the travel space by launching their respective hotel booking sites through their apps.

Right at the heels of launching Go-Mall and in-app chat features, Indonesian unicorn Go-Jek quietly rolled out Go-Travel, in partnership with online travel agent Tiket.com. Users can now book hotel rooms through the app.

However, the experience is far from seamless as one cannot book flights and rail tickets through Go-Jek yet. Moreover, users cannot also pay using the app’s payment system, Go-Pay, as a payment option.

Go-Jek is not alone in exploring the travel sector. Grab recently launched its own hotel booking site for Singapore users, in partnership with Agoda and Booking.com.  Not long ago, Shopee added a flight ticket feature in collaboration with Traveloka, while two of Indonesia’s biggest e-commerce platforms, Tokopedia and Bukalapak have already introduced a similar feature to serve the local travellers.

The “super app” race has begun and a lot of apps aim to cater to the daily needs of users. Apps like WeChat, LINE, Grab, and Go-Jek have expanded from their core businesses to offer various services within the app.

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Go-Jek quietly rolls out e-commerce feature Go-Mall https://dev.traveldailymedia.com/go-jek-quietly-rolls-out-e-commerce-feature-go-mall/ Tue, 23 Apr 2019 01:23:23 +0000 https://www.traveldailymedia.com/?p=501149 The post Go-Jek quietly rolls out e-commerce feature Go-Mall appeared first on TD (Travel Daily Media) Brand TD.

Indonesian unicorn Go-Jek quietly introduced Go-Mall, a new feature that allows users to browse and shop for various items from electronics to groceries through the app.

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Indonesian unicorn Go-Jek quietly introduced Go-Mall, a new feature that allows users to browse and shop for various items from electronics to groceries through the app.

Go-Jek teamed up with JD.id, the Indonesian e-commerce joint venture of Chinese e-commerce giant JD.com, in creating the new feature. This partnership between the two companies started after the Chinese e-commerce giant invested USD 100 million in Go-Jek’s Series E funding round.

Go-Mall is possibly the resurrected form of Go-Jek’s former services Go-Mart, which allowed users to shop at supermarkets. Go-Jek had halted the service in 2018 but promised to bring it back in a “more innovative” form.

Before completing a purchase, Go-Jek users must log in with their JD.id credentials or create an account. Go-Mall feature currently shows JD.id page with the possibility to add more shopping pages. However, the tech start-up is adding more shopping pages. There is a high possibility that Go-Jek will add Blibli, which is part of GDP Ventures, another Go-Jek investor.

Go-Jek is on a tight race with rival Grab in Southeast Asia. Grab collaborates with HappyFresh to provide a fresh groceries service, but it doesn’t have a full range of e-commerce categories accessible through its app yet unlike its competitor.

The two ride-hailing companies vie to become a super-app offering a wide range of services in one app. Go-Jek has already partnered with digital media company Kumparan for a news feed feature. More recently, it introduced Go-Komik, a feature that allows users to read comic strips from local comic creators. Meanwhile, Grab is offering payment and delivery services.

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Go-Jek and Traveloka mull over going public https://dev.traveldailymedia.com/go-jek-traveloka-ipo/ Tue, 16 Apr 2019 02:05:50 +0000 https://www.traveldailymedia.com/?p=500769 The post Go-Jek and Traveloka mull over going public appeared first on TD (Travel Daily Media) Brand TD.

Indonesian unicorns Go-Jek and Traveloka are reportedly thinking of holding an IPO, which could be the first for Indonesia Stock Exchange.

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Indonesian unicorns Go-Jek and Traveloka are reportedly thinking of holding an IPO, which could be the first for Indonesia Stock Exchange.

IDX’s director for corporate assessment, I Gede Nyoman Yetna, told reporters that he met with Traveloka and talked about the possibility for the startup to hold an IPO. For context, Go-Jek executives held a meeting with IDX executives for a similar discussion last March 2018. However, the two unicorns remained non-committal on its IPO plans.

According to Nyoman, Traveloka has not decided on anything yet, as they are still considering a number of aspects—one of them is taxes. The finance ministry had said that they will make evaluations on tax policies in the capital market in a bid to attract more companies to go public.

Over the past few years, the Indonesian government and IDX have been encouraging startups to adopt the IPO route. IDX, on its part, has already undertaken a few initiatives to incorporate changes in the listing regulations. The stock exchange now allows small companies that have at least IDR 5 billion (USD 355,000) in net tangible assets, net income of around IDR 1 billion and IDR 100 billion in market capitalization to list their shares on the IDX.

The Indonesian government anticipates the start-up ecosystem to spawn as many as 1,000 tech enterprises by 2020, with a combined value of around USD 10 billion.

Traveloka exceeds target funding

Traveloka reportedly raised USD 420m in a funding round led by Singapore’s sovereign wealth fund, GIC, and existing investors, according to people familiar with the matter.

The fresh funds will help enable Traveloka to become the region’s “travel super app” as it looks to further expand into tours and activities as well as food and lifestyle services.

In October 2018, Traveloka was reportedly seeking to raise USD 400m from new and existing investors to accelerate its growth. The company raised USD 350m injected by US online travel giant Expedia in 2017.

Go-Jek is Indonesia’s first decacorn

Ride-hailing app Go-Jek is Indonesia’s first ‘decacorn’ after its valuation hit USD 10bn, according to research institution CB Insights, in its Global Unicorn Club report.

CB Insights places Go-Jek in 19th position, below its competitor Grab, the valuation of which has been is recorded at USD 11bn. Uber is still in the top position with total valuation of USD 72bn.

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PH board says no to Go-Jek for the second time https://dev.traveldailymedia.com/go-jek-philippines-ltfrb/ Tue, 19 Mar 2019 01:47:53 +0000 https://www.traveldailymedia.com/?p=498538 The post PH board says no to Go-Jek for the second time appeared first on TD (Travel Daily Media) Brand TD.

Philippine’s Land Transportation Franchising and Regulatory Board (LTFRB) has denied the application of ride-hailing Go-Jek to enter the Philippine market.

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Philippines’ Land Transportation Franchising and Regulatory Board (LTFRB) has denied the application of ride-hailing Go-Jek to enter the Philippine market.

Go-Jek had filed an application to be a transport network company (TNC) through its subsidiary Velox Technology Philippines. However, LTFRB claimed that Go-Jek’s foreign ownership is the reason for the denial.

The board said that it did not meet the citizen requirement, which is the same reason for its denial the first time. Back in January, the LTFRB’s pre-accreditation committee rejected Velox’s application for being 99.99% owned by its parent company Velox South-East Asia Holdings, which is Singaporean.

According to Philippine laws, transport network vehicle services (TNVS) is categorised under public transport, thus it must be at least 60% Filipino-owned.

Go-Jek is reportedly in talks with Ayala Corporation. However, there is limited information on the rumoured acquisition deal.

Go-Jek told Philippine-based publication that it is disappointed with the board’s decision. “Go-Jek is disappointed with the LTFRB’s decision to deny our motion for reconsideration and our offer to address Filipino commuters’ urgent need for more transportation options,” the company said.

Currently, the gridlocked streets of Manila are dominated by Singapore-based Grab.

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Go-Jek logo on a helmet, Indonesia
Drive safe: Go-Jek partners with Doctor Anywhere https://dev.traveldailymedia.com/go-jek-doctor-anywhere/ Thu, 07 Mar 2019 05:19:47 +0000 https://www.traveldailymedia.com/?p=497353 The post Drive safe: Go-Jek partners with Doctor Anywhere appeared first on TD (Travel Daily Media) Brand TD.

Go-Jek cares for the welfare of its drivers in Singapore as it partners with local start-up Doctor Anywhere.

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Go-Jek cares for the welfare of its drivers in Singapore as it partners with local start-up Doctor Anywhere.

Starting next month, Go-Jek drivers will be able to access Doctor Anywhere’s platform, which provides online video consultations with Singapore-registered medical professionals.

It also allows patients to book face-to-face appointments, get referrals to specialists, and arrange for home delivery of medicine and doctors’ notes. Go-Jek drivers will also be eligible for discounts of up to 40% on third-party “wellness” services offered via Doctor Anywhere’s marketplace.

Go-Jek will cover subscription fees, while drivers will pay a special partner rate for each consultation and service they use. The company’s most active drivers will get “additional medical benefits fully subsidized by Go-Jek,” it said.

Last week, Go-Jek unveiled what it described as the city-state’s “most extensive” earnings protection scheme for its Singaporean drivers in partnership with local insurance start-up Gigacover.

GOJEK’s co-founder Kevin Aluwi noted the positive response of Singapore, the home-ground of its archrival Grab, to Go-jek’s arrival. Aluwi shared: “I think out of all the country launches, Singapore has been by far the most surprising in terms of reception, both in terms of demand from riders and supply of drivers. The desire to have a more competitive and fair market was overwhelming.”

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Go-Jek to try again in PH https://dev.traveldailymedia.com/go-jek-philippines-ayala-investment/ Tue, 05 Mar 2019 01:14:10 +0000 https://www.traveldailymedia.com/?p=496935 The post Go-Jek to try again in PH appeared first on TD (Travel Daily Media) Brand TD.

Indonesian unicorn Go-Jek will try to penetrate the Philippine market again after reports claimed that one of the country’s oldest conglomerates Ayala Corporation will partner with the ride-hailing giant.

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Indonesian unicorn Go-Jek will try to penetrate the Philippine market again after reports claimed that one of the country’s oldest conglomerates Ayala Corporation will partner with the ride-hailing giant.

Details are currently scarce about the impending deal. Ayala is reportedly in talks with the Indonesian company to cruise the gridlocked streets of Manila and to contend with the sole ride-hailing firm in the country – Grab, according to unnamed people involved in the discussion.

If the deal pushes through, it will be the latest technology play for Ayala, after it bought a stake in Zalora’s local unit and subsequently put up a logistics platform Entrego.

Go-Jek previously hit a roadblock when regulators in the Philippines have rejected Go-Jek’s bid to enter the market citing that the company violated foreign ownership regulations. The Land Transportation Franchising and Regulatory Board’s accreditation committee denied an application from Velox Technology Philippines — Go-Jek’s local affiliate — to start a transport network company that will challenge Singapore-based Grab.

However, the setback may only be temporary as the firm, whose backers include Alphabet Inc’s Google, could appeal the decision or team up with Filipino investors.

“Go-Jek can get a local partner that will own at least 60% of the ride-hailing entity to comply with the law,” said January Sabale, head of communications at the Land Transportation Franchising and Regulatory Board (LTFRB).

According to the country’s laws, foreigners can own only up to 40% of public utilities. According to some reports, Go-Jek owns 99% of Velox through a Singaporean subsidiary.

Go-Jek has a valuation of over USD 1 billion and currently operates in Indonesia, Singapore, Thailand, and Vietnam.

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Go-Jek’s fresh funds fuel expansion https://dev.traveldailymedia.com/go-jeks-fresh-funds-fuel-expansion/ Fri, 08 Feb 2019 01:41:07 +0000 https://www.traveldailymedia.com/?p=494395 The post Go-Jek’s fresh funds fuel expansion appeared first on TD (Travel Daily Media) Brand TD.

Go-Jek has announced that it had received series F funding from Alphabet Inc.’s Google, Chinese e-commerce giant JD.com Inc. and China-based conglomerate Tencent Holdings, with Mitsubishi Corp. and Provident Capital joining as investors.

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Go-Jek has announced that it had received series F funding from Alphabet Inc.’s Google, Chinese e-commerce giant JD.com Inc. and China-based conglomerate Tencent Holdings, with Mitsubishi Corp. and Provident Capital joining as investors.

While the total amount was not disclosed, the company is valued at around USD 9 billion making it one of the unicorns in its home court.

The funds raised would be used to strengthen Go-Jek’s position in Indonesia and its penetration of other markets including Singapore, Vietnam and Thailand.

“As we expand internationally, we are excited to extend our vision to more countries and at the same time put Indonesia on the map as a regional hub for tech innovation,” said Go-Jek group CEO Nadiem Makarim in the statement.

Go-Jek and its affiliates now operate in five countries in 204 cities and regencies across Southeast Asia, with a network of over 2 million driver partners and 400,000 merchants.

Its local brand in Vietnam, Go-Viet, takes hold of at least 40% of the country’s two-wheeled transportation market share within three months of its launch in August 2018. Go-Jek employs the same strategy in Thailand but partnered with licensed motorcycle taxis to conquer two-wheeled ride-hailing service.

In Singapore, the Indonesian unicorn opened its beta app last month. However, the ride-hailing company was not very lucky in the Philippines and hit a roadblock.

The founders of Go-Jek said in the statement that they would continue to influence decision-making and direction of the company while maintaining its long-term vision and pushing for business expansion.

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Go-Jek logo on a helmet, Indonesia
Go-Jek operates in Singapore after roadblock in the Philippines https://dev.traveldailymedia.com/go-jek-singapore-philippines-grab/ Fri, 11 Jan 2019 04:58:12 +0000 https://www.traveldailymedia.com/?p=492116 The post Go-Jek operates in Singapore after roadblock in the Philippines appeared first on TD (Travel Daily Media) Brand TD.

Indonesian unicorn Go-Jek has opened its app to passengers in Singapore after it hits a roadblock in the Philippines.

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Indonesian unicorn Go-Jek has opened its app to passengers in Singapore after it hits a roadblock in the Philippines.

Consumers can now sign up for Gojek’s ride-hailing services via the iOS or Android app. First-time riders will receive two SGD 5 vouchers, which they can use for two rides within two weeks of signing up. Go-Jek’s initial Singapore beta offering, launched on 29 November 2018, was open to a limited customer base, including DBS and POSB Bank customers, and covered a portion of the island. It now operates across the city and is open to all 5.8 million residents.

Meanwhile, regulators in the Philippines have rejected Go-Jek’s bid to enter the market citing that the company violated foreign ownership regulations. The Land Transportation Franchising and Regulatory Board’s accreditation committee denied an application from Velox Technology Philippines — Go-Jek’s local affiliate — to start a transport network company that will challenge Singapore-based Grab.

However, the setback may only be temporary as the firm, whose backers include Alphabet Inc’s Google, could appeal the decision or team up with Filipino investors.

“Go-Jek can get a local partner that will own at least 60% of the ride-hailing entity to comply with the law,” said January Sabale, head of communications at the Land Transportation Franchising and Regulatory Board (LTFRB).

According to the country’s laws, foreigners can own only up to 40% of public utilities. According to some reports, Go-Jek owns 99% of Velox through a Singaporean subsidiary.

Go-Jek, with a valuation of over USD 1 billion, announced last year plans to enter four new markets, and the Philippines remains the only country where it has not been able to launch operations. It started offering services in Vietnam through its local partner Go-Viet in September, while it launched a beta service in Singapore, as well as in Thailand through local partner GET, toward the end of 2018.

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Go-Jek logo on a helmet, Indonesia
Where pawns become queens: 5 underrated Asian markets https://dev.traveldailymedia.com/underrated-asian-markets/ Mon, 05 Nov 2018 08:42:12 +0000 https://www.traveldailymedia.com/?p=486704 The post Where pawns become queens: 5 underrated Asian markets appeared first on TD (Travel Daily Media) Brand TD.

Asia and the Pacific is a massive market and a fertile ground for travel start-ups.

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Asia and the Pacific is a massive market and a fertile ground for travel start-ups. We marvelled at the success stories of Klook, Voyagin, Grab and Agoda. Agoda and Voyagin were acquired by bigger companies Booking Holdings and Rakuten, respectively; while Klook and Grab continuously attract investors to further its growth.

Surprisingly, Asia is a market of its own that is run by Asians for Asians. The reason why Asian companies, from one-man start-ups to juggernauts like Alibaba and Ctrip, trump western companies in Asia is because Asians know how to play and work in their home court.

However, Asia is no longer about China, Singapore, Thailand and Japan. Here are five underrated Asian markets that could be home to the next unicorn.

Philippines

 

Explora.ph
JR Felipe (blue) and Perry Sumakote (yellow) sits with a local community in the Philippines

I was at the Web In Travel Conference in Singapore last month and several investors have cited the Philippines as the most misunderstood market in Southeast Asia. Home to more than 100 million people and one of the few Asian countries that tag English as its second language, its potential is huge. However, this is often overshadowed by its colourful politics.

While investments are pouring in the fintech sector, the Philippines can bank on travel and tourism. Being a splintered archipelago, the country boasts of more than 7,000 islands. This year, it has attracted 3.7 million tourists, and there is no stopping inbound tourism despite the fact that Boracay was closed for the past six months. This is why most of the travel start-ups are in the tours and destinations space like Tralulu and Explora.ph.

Another edge of the Philippines over other countries is the fact that Filipinos are heavy mobile users and fans of social media – especially, Facebook. In its Digital 2018 report, which compiled data from various third-party sources, We Are Social said Filipinos spent an average of three hours and 57 minutes a day on social media sites.

Indonesia

When talking about interesting start-up ecosystem, most analysts will probably cite Indonesia, home to Traveloka and Go-Jek. These tenacious companies have expanded in neighbouring countries with remarkable growth.

The country’s start-up ecosystem started in 2010s and it has produced quite a few unicorns in various sectors. The success of these companies has inspired Indonesians to create start-ups that will solve the pain points of everyday life. The movement spurred rapid growth of the ecosystem and has attracted USD 3 billion worth of investments in 2016-2017 alone.

Very much like the Philippines, one of the greatest advantages of Indonesia is its population of more than 200 million. Most of them are tech-savvy with an average Indonesians owning at least two smartphones.

Vietnam

Vietnam is a country that cannot be ignored  as it is one of the fastest growing markets in the region. They say that Vietnam is the new Thailand as the latter is slowly joining the ranks of Singapore and Hong Kong.

The start-up ecosystem is still in the infancy stage. It was in 2016 when the country experienced high-speed growth. The increase of startups was made possible with a good telecommunications system, the Internet, 4G, and the improvement of technology and education. The ecosystem was also driven by ‘The Viet Kieu (Viet Kieo)’, a generation of Vietnamese who studied overseas and came back. Although the market is still young, it only promises incredible growth in years to come.

Taiwan

Have you ever heard of “Taiwan Miracle”? It is the rapid industrialization and economic growth of Taiwan during the latter half of the 20th century as it developed as one of the “Four Asian Tigers”. Now one of the top producers of computers, it is ready to expand its start-up ecosystem to support its entrepreneurs to scale overseas and invite investors onto its shores.

Taiwan has a healthy start-up environment and the government supports companies via the Taiwan Startup Stadium. The government is eager to hear new ideas and the start-up communities on what kind of problems they can solve.

Israel

Dubbed as the next Silicon Valley, Israel has more start-ups per capita and it is a place where everyone is a visionary. Here are some proofs:

  • #1 country with Nasdaq-listed companies except for the US and China
  • #1 country in terms of VC Investment per Capita and as a % of GDP
  • #1 country in terms of start-ups concentration: there’s 1 start-up for every 400 people
  • #1 start-up ecosystem after the US according to the 2015 Compass Global Start-up Ecosystem Ranking

Israelis attribute their success to the mandatory military service that gives rise to tech experts, cyber experts and hackers like nowhere else. In line with this, government and venture capitalists extend overwhelming support to companies.

In Israel, the Government dedicates a huge part of its budget to the military and to R&D in technology, which is 20% and 4% of GDP, respectively. Meanwhile, there are roughly 150 active VCs in Israel. In 2017, Israeli start-ups exited USD 23 billion in 112 deals, including 92 M&A deals, 13 IPOs, and 7 buyouts with 18 exits over USD 100 million.

Asia has always been a treasure trove – a market of billions as half of the world’s population reside in the biggest continent. However, from being known for cheap shoes and garments and knock off cellphones, Asia is now a famous breeding ground for tech start-ups and home to the middle class loaded with cash.

Most importantly, Asian companies know the market better and they tweak their technologies to adapt to their lifestyle and not the other way around.

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startup asia Explora.ph JR Felipe (blue) and Perry Sumakote (yellow) sits with a local community in the Philippines Go-Jek logo on a helmet, Indonesia Jerusalem Israel (1)
Evolution of urban mobility: Where does the road lead? https://dev.traveldailymedia.com/evolution-urban-mobility/ Tue, 12 Jun 2018 13:58:15 +0000 http://www.traveldailymedia.com/?p=472099 The post Evolution of urban mobility: Where does the road lead? appeared first on TD (Travel Daily Media) Brand TD.

We have a rich history of mobility, documented and immortalised by technologies whose sole purpose is to take us where we are going. We have come a long way, from horse-drawn carriages and rickshaws to Uber and bullet trains - getting from point A to point B has become easier and faster.

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The post Evolution of urban mobility: Where does the road lead? appeared first on TD (Travel Daily Media) Brand TD.

We have a rich history of mobility, documented and immortalised by technologies whose sole purpose is to take us where we are going. We have come a long way, from horse-drawn carriages and rickshaws to Uber and bullet trains – getting from point A to point B has become easier and faster.

In many countries, freedom of movement or mobility is part of a person’s basic human rights. Public transportation plays a major role in getting around, especially for those who cannot afford their own cars. Buses, trains, and subways are our way to get to our destination, especially in urban areas.

According to Union Internationale des Transports Publics (UITP), 243 billion public transport journeys were made in 39 countries worldwide in 2015. The largest market for public transport is China with 85 billion total journeys followed by Japan and Brazil.

In a span of a few decades, urban areas have become increasingly automobile-dominated and less sustainable. Cities that are inexperienced with the rapid increase in vehicles suffer from challenges like pollution, traffic, accidents, and environmental degradation.

With these challenges, it is of vital importance to come up with a sustainable urban transport system. A number of companies offer solutions with research and testings currently underway.

uber-transport-system

Uber and everything else

Technology transformed our transport systems. In 2007, RideCharge was one of the first to introduce us to taxi-hailing services with the adoption of smartphones. It paved the way for other apps providing the same service worldwide such as MyTaxi and GrabTaxi in Europe and Southeast Asia, respectively.

However, urban mobility was changed when Uber was launched in 2009. Uber is the first one of its kind that enabled passengers to use private vehicles like taxis. The company now has eight million users and was valued at US$68 billion in 2015.

Uber revolutionised getting a ride by inventing a ride-hailing market using private cars and private individuals as our drivers. It transformed how we hitchhike; gone are the days that we have to give an awkward thumbs up at the side of the road. Uber also transformed how we carpool without the awkwardness and eternal gratitude to the person.

It seems that the whole cornucopia of start-up companies that offer a wide array of options and solutions to our mobility opened up. Mirror images of Uber appeared worldwide such as Lyft, Sidecar (RIP), Hailo and MyTaxi in Europe, Grab and Go-Jek in Asia, and Didi Chuxing in China.

While Uber et al aim to provide solutions to popular problems in urban mobility by offering another way (more comfortable) to get around, transportation network companies (TNCs) beg to differ, saying that ridesharing services made traffic congestion worse in some cities with a large number of vehicles cruising the roads waiting for passengers.

The ‘alternatives’

The problems created by ride-sharing are a jumpstart for some start-up companies like Lime (formerly known as LimeBike) and FlixBus. Lime offers a solution to decongest urban roads by decreasing the number of cars cruising the streets, replacing them with scooters and bikes that take up less space.

“Most of the trips taken in the US by car in a metropolitan are actually about a mile or so. Through our multimodal platform of classic pedal bikes, electric bikes, electric scooters we are providing another option that is part of the city’s bigger transportation ecosystem,” Lime CEO Toby Sun told me via email.

Lime is not alone in this mission to minimise urban transportation. Start-up companies such as Bird, Scuter, Spin, Xiaomi, and Twenty Two Motors are only some of the names in micro-mobility war. US key cities are in the middle of a scooter-sharing boom, the same way bicycles function in Japan.

FlixBus, on the other hand, offers the perfect midpoint between an Uber and a bus ride. Just like the bus, it travels on a route but uses technology to make booking less hassle.

“Uber and Lyft are specifically designed for short-distance travel, where pick up and drop off locations occur in the same city for the most part. FlixBus encourages a bigger sense of wanderlust by offering connections between states, rather than just a quick ride to your local bar. Long-distance trips with us also tend to cost less than short-distance trips with Uber, Lyft and other similar ridesharing services,” Pierre Gourdain, managing director for America of FlixBus, said.

Passenger drones, transit pods, etc.

We continue to battle the problems created by the modernization of our urban transportation, and we continue to push boundaries while we do. Futuristic solutions are being developed to solve some of the persistent problems with mobility.

Crowded cities often suffer traffic gridlock and would most likely welcome solutions to this growing dilemma. Passenger drones is a plausible answer to their congested roads. Drones have evolved from being a young boy’s toy to a tool for photography and surveillance. In less than a decade, drones are now being developed to carry passengers for airborne travel.

Passenger drones will offer a new way to travel short distances. Imagine if we can travel just like the Jetsons. While the capabilities of passenger drones remain unclear, it will surely cut the travel time in half and will be popular among people who want to avoid the gruelling traffic.

Moreover, almost all drones that are currently under development use electricity making it eco-friendly and emission-free. This is a viable choice in a society leaning towards green technology. There are at least six companies working on making this possible, including Uber.

Another solution for urban mobility is ‘transit pods,’ which is an electric vehicle that will carry passengers to stations. Transit pods are designed to travel short and medium distances. They run on dedicated lanes like bikes. They are augmented with a camera for security and electromechanical technologies to perform the coupling and detaching processes, which can be activated while in motion.

Cities are in need of transit pods for the time it takes to get from point A to point B in traditional cars is overkill. Most trips consist of a single person looking to travel three miles or less. Most urbanites travel solo or in two’s. Cars are no longer ideal but there is no product available to meet their needs.

We will surely not stop here. Cities across the world will strive to meet urban sustainability standards for having a sustainable transport system is the goal. This can be achieved by improving the public transport, limiting the use of private vehicles, and trying to undo the effects of automobile dominance.

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Evolution of urban mobility: Where does the road lead? We have a rich history of mobility, documented and immortalised by technologies whose sole purpose is to take us where we are going. We have come a long way, from horse-drawn carriages and rickshaws to Uber and bullet trains - getting from point A to point B has become easier and faster. MyTaxi,Twenty Two Motors,Lime,Didi Chuxing,RideCharge,Xiaomi,Lyft,Sidecar,urban mobility,Spin,Uber,Hailo,Go-Jek,Scuter,GrabTaxi,flixbus,Toby Sun,urban mobility transport system Uber Uber met with government officials in Cambodia lime-s_limebike_carly mask-21 FlixBus-US launch-free for editorial purposes_0 transit pods
Go-Jek makes international debut with $500 million in its pockets https://dev.traveldailymedia.com/go-jek-expands-in-southeast-asia/ Thu, 24 May 2018 08:25:49 +0000 http://www.traveldailymedia.com/?p=469872 The post Go-Jek makes international debut with $500 million in its pockets appeared first on TD (Travel Daily Media) Brand TD.

In the coming months, daily commuters in Southeast Asia will soon get the chance to join the Indonesian way of travel as Go-Jek expands into Vietnam, Thailand, Singapore, and the Philippines. With Uber now out of sight, the company looks to be seizing the moment to capture the market in the region.  

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In the coming months, daily commuters in Southeast Asia will soon get the chance to join the Indonesian way of travel as Go-Jek expands into Vietnam, Thailand, Singapore, and the Philippines. With Uber now out of sight, the company looks to be seizing the moment to capture the market in the region.  

Go-Jek announced today (24 May) that it will invest about $500 million, a manageable amount for Indonesia’s first ever billion-dollar start-up. In February, the company raised about $1.5 billion in a fund-raising round which includes big-time investors such as Google and Tencent. This comes in no better time after Uber has left the region to merge with Grab.

Now, with big bucks behind it, Go-Jek is ready to go on a ride-hailing battle with Grab, which has some $4 billion after raising funds from investors led by SoftBank Group.

“Consumers are happiest when they have a choice”

Go-Jek’s CEO, Nadiem Makarim, said: “Consumers are happiest when they have a choice, and at the moment, people in Vietnam, Thailand, Singapore and the Philippines don’t feel that they’re getting enough.”

Being from the Philippines myself, I cannot agree more. I’ve seen personally how people are hailing unregistered motorbikes just to get a ride, in a desperate attempt to find an affordable way to weave through the horrible traffic.

Makarim added: “We hope that as we arrive in new markets, we will quickly become everyone’s go-to lifestyle app. That is our aspiration. In the meantime, we hope our presence will provide the welcome competition markets need to thrive.”

Heavy traffic in EDSA, Philippines
Heavy traffic in EDSA, Philippines

In the beginning, only the ride-hailing services will commence in the four countries, but the company will soon replicate its other services (food orders, movie tickets, bills payment, etc.) just like in its home country Indonesia.

“We visited all those countries and we felt like the solutions that we provided in Indonesia will probably be suitable to some of these countries,” commented Andre Soelistyo, president of Go-Jek.

Its move into the new territories will come in handy for the region and it will definitely take a big bite off the ride-hailing pie. So now the question is – has it been too early for Uber to pop the champagne? Well, they better not party cause there’s a new player in town.

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Go-Jek logo on a helmet, Indonesia Traffic in the Philippines