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Go-Jek and Grab are vying for supremacy in the Southeast Asian market after Uber's withdrawal from the region last year.
(Bloomberg) – A US market intelligence service has estimated the value of Go-Jek's US $ 10 billion service, putting it on the list of start-ups called decacorns.
Based in New York, CB Insights ranked Go-Jek among 19 Decacorns worldwide, alongside Uber Technologies. This would make Go-Jek Indonesia's first start-up a member of the $ 10 billion market valuation club and the second start-up in Southeast Asia after the competing Grab service.
Nila Marita, Go-Jek's Director of Corporate Affairs, said the valuation reflected investor confidence in the company's continued growth, with no confirmation of details about its value.
An initial public offering remains a long-term goal for Go-Jek, but it's not in our immediate future. Our goal is to develop the business and serve our users and partners in the countries in which we operate, Marita.
A unicorn is a close start-up valued at more than a billion dollars, while decacorn uses the Greek word '' ten ''.
Grab recently raised approximately $ 1.5 billion from SoftBank's Vision Fund, which allows it to strive to develop new services in the region.
This means that investors received about $ 4.5 billion in the last year.
The two most valuable companies in Southeast Asia are seeking to grow rapidly, from mobile payments to food delivery. Go-Jek has raised over $ 1 billion in funding from a group of internet giants, including Google, JD.com and Tencent Holdings.
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