Gojek Focuses On 3 Services to Push User Transactions in 2020

Lately, some startups have begun to focus on making money and reducing the ‘burn money’ strategy. Gojek also targets sustainable growth, thus focusing on three services.

The three services are food delivery (GoFood), payment (GoPay), and transportation. “We will always invest and consistently long-term innovation in these three pillars,” said Gojek Nila Marita, Chief Corporate Affairs in Jakarta, Thursday (1/16).

Therefore, these start-up companies focus on innovation rather than promotions such as cashback and discounts. That way, they are optimistic that the service is more often used by consumers.

“We are very excited at the forefront. But the method does not always have to be with promotion, instead, we have to be more innovative, “Nila said. He said, sustainable business growth is one of the desires of investors.

Monthly active users (MAU) Gojek grew 1.5 times yearly (year on year / yoy) in 2019. Revenue also doubled yoy.

“If we can attend the next 100 years to serve consumers in Indonesia and the world, why not? We are also aligning the growth of this business, “said Nila.

GoFood transactions even reach 50 million per month in Southeast Asia. “We don’t want to compete based on promos or prices, but overall for consumers. But, of course, competitive prices, “said Gojek Group Chief Food Officer Catherine Hindra Sutjahyo.

Gojek had claimed, the GoFood market reached 75% in the region. The claim refers to three things. First, according to the Annie App report, GoFood users are 1.5 times more than competitors.

Second, Nielsen’s study shows that consumers in Indonesia prefer GoFood. Third, Gojek’s internal survey states that GoFood services are considered to be more contributing to the growth of partner businesses.

“Why do we dare to call 75%? That is based on the number of orders and the average order value by basket size. If calculated based on the amount paid by consumers before the promo, it is not a real number. So, we call that 75% the figure is real, “said Catherine, some time ago (9/19/2019).

GoFood Will Release 4 New Features

GoFood released four new features that it claimed would answer the needs of its customers, namely GoFood Pickup, GoFood Turbo, GoFood Plus, and Google Assistant features.

Gojek Group Chief Food Officer Catherine Hindra Sutjahyo said, for GoFood Pickup, customers can now order food at restaurants without waiting in line by ordering through the application, then the food can be taken immediately.

Then, the next feature, called GoFood Turbo will guarantee the foods will be received by customers in a short time, and users can order various types of food at once.

However, these two features are currently limited to only a few restaurants and merchants at the GoFood Festival. In addition to new services, GoFood also provides subscription features or subscriptions via GoFood plus, where there will be a direct discount for several days.

Gojek Won’t List in IPO Soon

Currently, Gojek is currently reviewing the opportunity for initial public offering (IPO) selling of shares on the two stock exchanges (dual listing). The main objective is the IDX.

However, Gojek co-CEO Andre Soelistyo stressed that the IPO will not be done in the near future. Because there are three considerations in deciding the listing time of Gojek shares. First, look at economic conditions and a stock market that is conducive to an IPO.

Second, to continue encouraging good corporate governance (Good Corporate Governance / GCG) and transparency in Gojek. Because this is the duty of a public company. Finally, Gojek will continue to improve its performance first in order to grow sustainably.

Beside Gojek, some startups have begun to reduce the ‘burn money’ strategy, namely OVO, FUND, and LinkAja. Two homeland unicorns namely Bukalapak and Tokopedia also began to focus on sustainable growth to achieve profits before interest, taxes, depreciation, and positive amortization (EBITDA).