Grab to stoke up ride-hailing competition in Indonesia with $250m investment

Grab to stoke up ride-hailing competition in Indonesia with 0m investmentSingapore ride-hailing company Grab, which claims it holds 65 per cent of Indonesia’s ride-hailing market, will invest $250 million through its newly launched unit Grab Ventures in Indonesian startups over the next three years, as it aggressively pushes to cement its position in Southeast Asia’s largest economy.

It will choose startups working on “mobility, food, logistics, fintech and other online-to-offline challenges,” said country director Ridzki Kramadibrata.

“We hold 65 per cent of Indonesia’s ride-hailing market, as based on total rides and transactions,” Kramadibrata said on August 29, adding that “it won’t stop there, our market share is increasing.”

He estimates that Grab holds majority market share in 137 cities in Indonesia, compared with the company’s rival, Go-Jek, which holds about 50.

Kramadibrata noted he based his estimates on internal and third-party data that he declined to reveal. Grab recently raised $2 billion in fresh funding to expand in Indonesia, which it has earmarked as a priority market. Among its investors are Toyota and Softbank.

Go-Jek, in turn, has evolved from a ride-hailing service to a one-stop app allowing Indonesian clients to make online payments and order everything from food, groceries to massages. It is now expanding in Southeast Asia, to Vietnam, Thailand, the Philippines and Singapore. Go-Jek is backed by investors such as Google Ventures and Singapore’s state fund Temasek.



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Singapore ride-hailing company Grab, which claims it holds 65 per cent of Indonesia's ride-hailing market, will invest $250 million through its newly launched unit Grab Ventures in Indonesian startups over the next three years, as it aggressively pushes to cement its position in Southeast Asia's largest economy. It will choose startups working on “mobility, food, logistics, fintech and other online-to-offline challenges,” said country director Ridzki Kramadibrata. “We hold 65 per cent of Indonesia's ride-hailing market, as based on total rides and transactions,” Kramadibrata said on August 29, adding that “it won’t stop there, our market share is increasing.” He estimates...

Grab to stoke up ride-hailing competition in Indonesia with 0m investmentSingapore ride-hailing company Grab, which claims it holds 65 per cent of Indonesia’s ride-hailing market, will invest $250 million through its newly launched unit Grab Ventures in Indonesian startups over the next three years, as it aggressively pushes to cement its position in Southeast Asia’s largest economy.

It will choose startups working on “mobility, food, logistics, fintech and other online-to-offline challenges,” said country director Ridzki Kramadibrata.

“We hold 65 per cent of Indonesia’s ride-hailing market, as based on total rides and transactions,” Kramadibrata said on August 29, adding that “it won’t stop there, our market share is increasing.”

He estimates that Grab holds majority market share in 137 cities in Indonesia, compared with the company’s rival, Go-Jek, which holds about 50.

Kramadibrata noted he based his estimates on internal and third-party data that he declined to reveal. Grab recently raised $2 billion in fresh funding to expand in Indonesia, which it has earmarked as a priority market. Among its investors are Toyota and Softbank.

Go-Jek, in turn, has evolved from a ride-hailing service to a one-stop app allowing Indonesian clients to make online payments and order everything from food, groceries to massages. It is now expanding in Southeast Asia, to Vietnam, Thailand, the Philippines and Singapore. Go-Jek is backed by investors such as Google Ventures and Singapore’s state fund Temasek.



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Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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