Indonesia's first decacornGojek was established in Indonesia in 2009. Focused initially on courier services and two-wheeled ride-hailing, the company now operates a super app available in Indonesia, the Philippines, Singapore, Thailand, and Vietnam. In 2019, Gojek reached a valuation of 10 billion U.S. dollars, becoming Indonesia's first decacorn and the second decacorn in Southeast Asia, following fellow ride-hailing giant and main competitor Grab.
Southeast Asia boasts a variety of multinational and national ride-hailing apps. Grab and Gojek are the two most-used services across the countries they are available in. While Grab edges out Gojek regarding car-based ride-hailing in Indonesia, Gojek has the bigger market share of motorbike ride-hailing in the country.
Rise of the super appsIn May 2021, Gojek completed its merger with Indonesian e-commerce unicorn Tokopedia, resulting in both companies becoming subsidiaries of the new holding company GoTo. Tokpedia is one of Indonesia's leading e-commerce platforms, having attracted over 100 million monthly visitors in the past. In March 2022, GoTo launched on the Indonesia Stock Exchange with an initial public offering (IPO) of 1.1 billion U.S. dollars.
Nowadays, the Gojek super app offers a multitude of services next to ride-hailing, such as shopping and food delivery as well as Go-Pay, a mobile payments service. The popularity of ride-hailing and grocery super apps in Southeast Asia was projected to lead to a doubling in market value until 2025.