In brief: Go-Jek ‘extremely close’ to profitability in most segments, says CEO

Go-Jek CEO Nadiem Makarim on stage at Tech in Asia Jakarta 2016 / Photo credit: Tech in Asia

Go-Jek is “extremely close” to profitability in all segments – except for transportation (Indonesia). Co-founder and CEO Nadiem Makarim said that he expects the ride-hailing company to be fully profitable “probably” within the next few years. But Go-Jek’s transportation offerings are not as close to turning a profit as other segments, though Makarim said that he now considers food delivery to be the company’s core business.

Go-Jek revealed plans earlier this year to expand beyond its home market to other Southeast Asian countries. Makarim said that Go-Viet – its Vietnamese app – has grabbed 15 percent market share in Ho Chi Minh City since launching at the start of August. He also expressed a positive outlook on Go-Jek’s foray into Singapore, claiming that authorities in the city-state are “particularly eager to bring back competition” following Grab’s acquisition of Uber’s regional operations earlier this year. (Reuters)

Other news

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Google employees reportedly in uproar at prospect of China return (China/US). Google is said to be developing a “censor-friendly” search engine – codenamed “Project Butterfly” – which would allow it to re-enter the country’s web search market for the first time in eight years. Google CEO Sundar Pichai reportedly told employees at a meeting that any such plans are merely “exploratory,” while co-founder Sergey Brin said the company wouldn’t compromise its principles. (Bloomberg)

Emigrant-focused startup Hinabian nabs Ctrip investment (China). Shenzhen-based Hinabian provides a range of online services – including help with real estate matters – aimed at Chinese emigrants to the US, Australia, Canada, and New Zealand. Online travel giant Ctrip was the sole reported participant in the series B round, the amount of which was undisclosed. (China Money Network)

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