Go-Jek, Grab Battle for App Dominance in SE Asia
Southeast asian ride-hailing firms Go-Jek and Grab are fiercely competing for dominance in the region by bringing various services such as banking, e-commerce, ride-hailing, food-delivery under one “super app” for the majority of the unbanked population.
Both firms, which started out as ride service companies, have made their services available at cut-rate prices in low-income countries. Jixun Foo, Grab backer and managing partner for GGV Ventures says that the region which is home to 650 million presents a massive opportunity for both companies.
Go-Jek, which is backed by Google, Tencent, JD Inc., and KKR & Co., currently holds dominance in Indonesia, the region’s biggest economy. However, Grab, backed by Softbank, Toyota, Uber, and Microsoft, is the bigger regional player outside of Indonesia.