GOJEK’s Vietnam affiliate GoViet says bike service grew 400% since its launch

GoViet, the Vietnam-based affiliate of Indonesian ride-hailing major GOJEK, said it has scored 100 million rides through bike services, representing a 400 per cent growth since its launch a year ago. However, the firm has not disclosed any plans to expand to car hailing services yet.

Kicking off with GoBike in Ho Chi Minh City in August 2018 and Hanoi in September 2018, the service has registered more than 125,000 driver partners.

Its GoFood business, which came later in Ho Chi Minh City in November 2018 and Hanoi in March 2019, has worked with around 70,000 merchants and witnessed the number of orders growing 25-35 per cent every month, the company said in a statement. GoSend, operated on the bike service platform, has also completed millions of orders since its launch last year.

The firm is yet to start offering car ride-hailing service in Vietnam. GoViet and VinaCapital Ventures-backed Fastgo are the latest companies in the sector to secure an approval to implement car ride-hailing services in May this year. Vietnam had issued what it called a pilot scheme on allowing taxi and technology firms to offer ride-sharing, which has granted licences to Grab, Be Group and other apps developed by local transportation businesses.

“GoViet aims to become a ‘super-app’ for Vietnam, following the highly successful model that GOJEK has implemented in Indonesia, a market with economic conditions and demographics that are similar to Vietnam,” the Vietnam-based entity said.

It has recently appointed Le Diep Kieu Trang, previously country director of Facebook, to spearhead its business, after the company’s former core leadership team including CEO and chief growth officer stepped down.

GoViet is also scouting for new talent to join the team to cover operations from legal, marketing, government relations, business development to anti-fraud, and especially its GoPay service in the country.

Its major rival in the country is Singapore-headquartered Grab, which entered Vietnam in 2014, and since then launched additional services other than e-hailing, food and delivery, such as payment, subscription packages and hotel booking. It has recently branched into air delivery.

Responding to GOJEK announcement, Grab has told us that it is the largest food delivery player in Vietnam, citing a research by Kantar Group. The company claims it processes nearly 300,000 orders across the country everyday.

Vietnam’s home-grown BE Group has also offered delivery services to both individuals, SMEs and e-commerce companies, claiming it has completed 20 million bike and car rides since its launch in December 2018.

In the food delivery segment, Now by Foody is also another noteworthy player which secured investment from Sea Group in a $64-million acquisition deal.

Grab and GOJEK have raised billions from renowned global investors including SoftBank, Visa, Experian, Tencent, Temasek and Mitsubishi. Both are Southeast Asia’s first decacorns – tech companies with valuation surpassing $10 billion.

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.