GoFood and GoPay Bring Confidence Gojek Become a "Profitable" Company

GoFood and GoPay are now known as the two main businesses Gojek the fastest growing compared to other services. In the last year, mentioned GoFood print revenue $2 billion, 50 million transactions per month and 2,5 times growth. While Gopay contributed $6,3 billion, although the growth was not mentioned.

In one of the sessions raised by the Indonesia PE-VC Summit 2020 last week (15/1), Chief Food Officer Gojek Catherine Hindra and GoPay CEO Aldi Haryopratomo to discuss more deeply how these two services play a role in business Gojek.

Aldi explained, 2019 was a good year in terms of business growth, as well as the start of an efficiency strategy. How to maximize every dollar of investor money out, time sharing engineer, has been paid in full. "This is one of the advantages of being a low-cap player in this industry," he said.

This efficiency drive actually comes from none other than investors, most of whom are private equity, among them Northstar and Warburg Pincus. Both of them encourage the founder to run Gojek in a way that careful.

Catherine added, all the encouragement from investors led to GoFood in a business model that was in line with the direction of profitability. From time to time, benchmarking GoFood's achievements have grown from the initial number of transactions, to gross transaction value (GTV), and now revenue.

"Now we have track That's right, the progress is according to what we planned from the start. That's all (information) that I can share," he said.

GoFood's rapid achievements are actually not much compared to similar industries in China. Industry food delivery where the penetration has reached 13% -15% of total consumption, while in Indonesia it is still far below that. As a result, various innovations implemented in the bamboo curtain country are often used as references for players food delivery.

He also emphasized that the achievements of GoFood and GoPay were not due to the service features provided by each, but their attachment to each other in the same ecosystem.

"We do not work individually, but as a group of companies that provide holistic solutions. Maybe this is what sets us apart from the others."

The reason is, the DNA embedded in the company is to provide solutions to consumers as a whole. So that it doesn't only touch the issue of digital payments and digital payments food delivery only, but all aspects of daily life.

Compared Grab, acquisition of funds obtained Gojek can be said to be quite far away. Since its establishment in 2010, Gojek pocketed $3 billion in funding in 12 rounds. Whereas Grab reached $9 billion in 12 rounds. However, the nominal obtained Gojek relatively large for a technology company operating in ASEAN.

In strengthening its presence in the region, Grab expanding both organically and inorganically. One of them is through the acquisition of Uber specifically for its operations in ASEAN. Temporary Gojek himself just started out of the cage towards the end of 2018.