Carousell and Go-Jek team up in Singapore

Go-Jek is continuing its push into Singapore’s ride-hailing market by partnering with local consumer-to-consumer (C2C) marketplace Carousell.

Carousell users that sign up to Go-Jek can claim up to S$13 (US$9.58) in ride vouchers. New Go-Jek users in Singapore already get two vouchers worth S$5 (US$3.68) when they download the ride-hailing app.

Carousell’s co-founding team / Photo credit: Carousell

Carousell users that register for the service via ads displayed in the app or on the website stand to get an extra S$3 (US$2.21) in vouchers if they do so between January 24 and March 6.

The vouchers are valid for 14 days and will be automatically applied when users book a trip.

This is the second major partnership Go-Jek has unveiled with local companies in Singapore. It tied up with DBS prior to its beta launch in the city-state last November, giving the banking giant’s customers first dibs on using the service and the free-ride vouchers.

Go-Jek is continuing to spend heavily on subsidies in its bid to gain market share from Grab. It’s also spending on outdoor advertising to build brand awareness. Ultimately though, it needs to retain users by providing value and convenience over competitors.

A Go-Jek ad in Singapore / Photo credit: Momentum Works

DBS and Go-Jek have also said they’ll collaborate on payments throughout Southeast Asia, though further details are yet to be announced.

DBS is an investor in Carousell, having joined the startup’s US$85 million series C round in May last year.

The C2C player has been pushing ahead with efforts to monetize its platform, and third-party marketing partnerships are becoming a cornerstone of its strategy. It has joined forces with the likes of personal finance portal MoneySmart and insurance giant Axa to offer their products and services through its app and website.

Carousell reported revenue of US$1.73 million and losses of US$29.8 million in FY 2017.

“We look to partner with local brands that align with our mission of making the everyday lives of people better. As Singapore’s most well-known consumer-to-consumer marketplace, Carousell solves a pain point for consumers by making the exchange of goods and services more accessible,” said Raditya Wibowo, Go-Jek’s global head of transport.