[Updated] Gojek considering rolling out food delivery, courier services in Singapore

GOJEK Singapore GM Lien Choong Luen

Editor’s note: This story was updated to include the changes made to The Straits Times’s earlier article. The earlier version had reported that Gojek was rolling out food delivery and courier services in Singapore.

Indonesian ride-hailing major Gojek is considering rolling out food delivery and courier services in Singapore, according to a Straits Times report.

According to the report, Gojek Singapore general manager Lien Choong Luen said that food delivery and courier services “make the most sense” for Singapore, noting stiff competition in these segments. He added that “new features” are expected to be unveiled as soon as the end of this year.

Gojek’s food and parcel delivery services are currently offered only in Indonesia and Vietnam. Singapore already sees several players in the food delivery and courier service segment — such as GrabFood, FoodPanda and Deliveroo in food, and Ninja Van, Lalamove, Pickupp, GogoX and SingPost in last-mile deliveries.

In the longer term, Gojek added that it will also look into introducing payment and e-commerce services in the country. Singapore is where Gojek bases a chunk of its technology team. It has been offering ride-hailing services in the country since it first entered the market in 2018.

Last month, GoTo announced that it raised $400 million in pre-IPO funding led by the Abu Dhabi Investment Authority (ADIA). Sources previously told DealStreetAsia that the pre-IPO fundraise will likely be in tranches with an aim to fully conclude the round by the end of this year.

GoTo meanwhile has also conducted several transactions internally to bolster its valuation to help it comply with local regulations. These include buying out stakes of foreign investors for its fintech arm GoPay.

According to reports, GoTo is aiming to list on the Indonesia Stock Exchange by early 2022, following Bukalapak’s successful IDX debut in August this year.

Gojek separately has also made several major structural changes including exiting from Thailand — a market it had been active in since 2019. In July, Gojek struck a deal with Malaysian budget carrier AirAsia Group, which acquired its Thai business for $50 million in a stock swap transaction. During the announcement, Gojek CEO Kevin Aluwi said the firm will re-commit its resources to Vietnam and Singapore.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.