Gojek to sharpen its focus on Vietnam, Singapore markets following Thai exit

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Following Thailand’s exit, Gojek will focus more on the Vietnamese and Singaporean markets.
ANTARA FOTO/ADITYA PRADANA PUTRA/FOC; ANTARA FOTO/ADITYA PRADANA PUTRA/FOC; ANTARA FOTO/ADITYA PRAD

Cindy Silviana contributed to this article.
16th of July, 2021

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It may seem counterintuitive, but Gojek’s withdrawal from Thailand’s market, announced last week, may actually help the Indonesian superapp’s regional expansion.

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Questions and Answers
Following the Gojek transaction, AirAsia is on the verge of securing two more in its digital business expansion.

In addition, AirAsia has secured a $50 million share swap arrangement to acquire Gojek’s Thai operations.

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In a $50 million equity transaction, Malaysia’s AirAsia acquired Gojek’s Thai company.

Gojek would own a 4.76 percent share in AirAsia’s lifestyle platform as a result of the acquisition.

Analysis
The merging of Gojek and Tokpedia will intensify the fight for tech supremacy in Southeast Asia.

GoTo, like its competitors Sea Ltd and Grab, is significantly investing in new services and expanding them across Southeast Asia.

Gojek and Tokpedia have merged to focus on Indonesia as a core market, according to Northstar’s Walujo.

According to Walujo, GoTo could eventually be listed on the Indonesian stock exchange.

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