Go-Jek acquires Loket in a bid to conquer live events space

Loket’s RFID bands for live events. Photo credit: Loket.

Go-Jek doesn’t see itself as a ride-hailing app. “We’re a new animal now,” its CEO Nadiem Makarim once said.

Indeed, Indonesia’s first unicorn has been branching out, slowly turning itself into an on-demand empire. That effort got a boost today with the acquisition of live event management and ticketing startup Loket.

“Go-Jek and Loket will provide their respective technology strengths to improve the whole event experience for both consumers and promoters,” the duo said in a joint statement, without disclosing the value of the deal.

Founded in 2013, Loket offers an online ticket booking and event management system. It distributes radio-frequency identification or RFID wristbands – attendees wear them, allowing event organizers to identify them when they pass through access gates. The tech also lets organizers monitor crew, control crowd traffic, enable cashless payments at event venues, and gather information about attendee behavior.

Loket claims to have facilitated more than 80 percent of Indonesia’s large-scale music events.

Eye on sports

Go-Jek started out with motorcycle-hailing, then added private cars to take on rivals Uber and Grab head-on. While it forges ahead in Indonesia’s transportation battle, it’s also expanded into other on-demand services like parcel couriers, food and medicine deliveries, cleaners, and massages.

In the events space, it provides ticket purchasing via Go-Tix, which has partnerships with cinemas and various event organizers. Another area it’s focusing on is cashless payments through Go-Pay, which is the glue that holds all its other services together.

Those two areas tie in well with what Loket is doing.

Through the deal, the two companies will tap into each other’s network. Specifically, they have set their sights on sports events, given that Go-Jek has secured the title sponsorship for Indonesia’s top professional soccer league.

“We will be able to better benefit our partners by supporting more events of all sizes covering live music events, festivals, attractions, workshops, seminars, and movies,” said Loket co-founder and CEO Edy Sulistyo.

“Ticket purchases, the atmosphere at the event location, as well as transacting at the location of the event, should be smoother,” added Makarim.

Live events present a huge opportunity for startups. Despite the industry’s growth, it’s weighed down by old ways – events are still largely organized and run manually.

Loket is looking to shake things up but it isn’t alone. There are other startups in the region, for example PouchNation and GoGorilla from Singapore which are also trying to carve out a piece of the estimated US$32 billion market.