JAKARTA (TheInsiderStories) – Indonesia’ ride-hailing company, GoJek targeting to conduct an Initial Public Offering (IPO) within the next three to four years, the spokesman told media on Tuesday (10/22). The firm aims to book profit before listing their share at the stock market.
“Our focus now is to develop business and strengthen services to our users,” said Michael Say today.
So far, GoJek has been downloaded by 125 million peoples and has more than 300 thousand merchants, 1.7 million driver partners, and operates in 207 districts and cities of Indonesia. The digital company has also sent 529 million food and drinks through GoFood.
Former CEO and founder of GoJek, Nadiem Makarim had worked hard to bring the company as one of decacorn in Indonesia. However, he was stepping down from its position at GoJek to become one of President Joko Widodo’ minister.
As the successor, GoJek appointed Kevin Aluwi and Andre Soelistyo as the new co-CEOs. Both, have been running the business along with Makarim, for a number of years, which will ensure a smooth leadership transition.
Under Aluwi and Soelistyo’ management, Gojek has processed over two billion transactions a year. The company also has got fundraising from the world’ most exciting companies including Google, Tencent, Mitsubishi, Visa, AIA and Astra, with Series F set to raise well over $2 billion.
The company has also launched operations in Singapore, Thailand and Vietnam. Aluwi and Soelistyo said, they have been running the GoJek business alongside Makarim for some time. Therefore, they believe that the operations will not be disrupted.
Based on official statement, Soelistyo will focus on corporate functions and management of capital allocation, international expansion as well as payments and financial services. While, Aluwi will focus on the product development elements of the company’ businesses as well as marketing, organizational development and the transportation and food delivery businesses.
“We are well prepared for the future and this is due in large part to the many outstanding industry leaders that have joined us over the past few years, and the collective vision and execution of the entire Gojek team,” said the both leaders.
Since co-founding GoJek, Aluwi has held significant leadership roles across product and functional teams within the organisation. He has used his background in business intelligence to pioneer the use of data for decision-making across the Gojek business.
He has also assembled deep technology expertise across the data, engineering and product teams, with a focus on enhancing the platform’s overall user experience. Prior to his role at the digital firm, Aluwi spent time at Zalora Indonesia, Merah Putih Incubator and Salem Partners.
Similarly, Soelistyo has played a pivotal role in laying a foundation for GoJek. He has overseen over $4 billion of fundraising, which attracted key investors such as Google, Tencent, Astra, KKR and Warburg Pincus.
He has also laid the foundation for the company’ business strategy for long term sustainability. Prior to joining GoJek, Soelistyo was an executive director at Northstar Group, Indonesia’ private equity fund, and was previously the head of corporate finance at PT Delta Dunia Makmur Tbk (IDX: DOID).
In addition, it has been revealed that one of the commissioners, Garibaldi Thohir, will become president commissioner to lead the non-executive board.
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