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The Indonesian Go-Jek group plans to launch a preliminary version of its race tracking app in Singapore on Nov. 29, which will give competition to rival Grab's hometown, according to sources close to the project.
The beta version of the Go-Jek application will be available to a limited number of consumers before extending it to a wider population as tests progress, said users, who asked not to be named because the information is not public.
Many consumers and drivers are eagerly awaiting the entry of Go-Jek after Grab has tightened its grip on the city-state by agreeing in March to acquire Uber Technologies Inc., a Southeast Asian company, eliminating thus its main competitor in the region. The departure of Uber was followed by an increase in the number of user complaints about rising prices, delays and customer service failures. Drivers expressed frustration with the reduction in earnings.
"For Singapore, another competitor can not come fast enough," said Benjamin Roberts, a resident of Singapore dissatisfied with Grab's cancellations and surcharges.
Go-Jek chief executive Nadiem Makarim said the company would enter the Singaporean market with promotions without revealing a specific timetable.
"It's time to rebalance the balance, add a lot more favorable policies to consumers and drivers and introduce some competition," said Makarim in an interview with Bloomberg this month- this. "But it will be a healthy competition. In the end, the most important factor will not be price competition, but the way we treat our drivers. "
Grab and Go-Jek are two of the most valuable startups in Southeast Asia. The seizure is valued at 11 billion US dollars (46,14 billion rand), according to research firm CB Insights. Go-Jek would have cost about 5 billion US dollars this year.
Some companies have filled the void since the departure of Uber. ComfortDelGro Corp., Singapore's biggest taxi company, took the opportunity as consumers looking for another choice turned to their app. Its shares climbed to S $ 2.51 (RM7.64) on June 5, a 33% increase from its 2017 low, as Grab and Uber competed for market share with rebates.
MVL Foundation Pte, an internationally renowned start-up, has recruited 23,000 pilots and 150,000 pilots since the launch of its application called Tada in July. The service took off mainly by word of mouth.
"We listened to the drivers' reactions from the start and opted for a zero commission for drivers," compared to the 20% commission imposed by Grab, said Kay Woo, founder and CEO of MVL. "Our drivers have become marketing specialists for us."
Go-Jek's international expansion marks a milestone for a company that started by launching a mobile app in 2015 to allow people to book cheap motorcycle taxis in Jakarta. Since then, the company has become a household name in its home country. In addition to its carpool service, Go-Jek is the largest food distribution company in Indonesia and the leading provider of digital wallets.
Anthony Tan, CEO of Grab, said the imminent competition would drive the company forward.
"The question is who can over-perform? There should be no question of who has the mega P & L to subsidize incredible amounts of promotions, which I'm sure you all hope for, "he said at a dinner in Singapore on Tuesday. "The truth is there will be more competition and that's the only way to stay honest and innovative." – Bloomberg
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