Go-Jek plans India foray in second half of 2018

Indonesia's hyperlocal transport startup Go-Jek is planning to launch its bike-taxi service in India in the second half of 2018, people aware of the development said.
They said the company is evaluating some southern cities and the Gurugram-NCR region and it may launch a pilot in one of these cities at the end of the year.
"The understanding is that a portion of the company's most recent fundraise, which is pegged at approximately $1.2 billion, will be allocated towards expansion plans into developing markets like India," one of the people cited above told ET.
The fundraise this person was referring to was a follow-on round from 2017, which saw Google and Temasek Holdings as some of the participating investors.
"With Ola and Uber's core focus not being on bike taxis, Go-Jek has the scope to enter and dominate the market over time. The company is evaluating an India entry later this year," a second person said. Multiple sources said the company has less to no scope for its bike-taxi service in developed markets but sees India as a huge opportunity.
"The company is likely to explore state government partnerships with select cities that do not have strict regulations where bike taxis are concerned," said the first person quoted above.
Analysts say bike taxi services have failed to take off in India as only a few states offer commercial bike taxi licences and there is a lack of clarity on regulations.
Over the past two years, a series of smaller bike taxi startups including HeyBob, Zingo, Rideji, and Dot launched services in Bengaluru and some cities of Haryana, but had to shut down due to regulatory issues and lack of funding.
Both Uber and Ola launched their bike taxi services-UberMOTO and OlaBikes-in March 2016 after facing regulatory challenges. The two are now operational in over 10 cities.

Trending News

Why Amazon’s Flipkart bid is just not high enough

Selling without MRP, expiry dates to cost etailers

TCS hits $100Bn market cap: A new phase for India Inc?

Snapdeal posts Rs 4,647 crore net loss in 2016-17

Flipkart-Walmart deal: What it means for the etailer and the whole industry

NCLAT stays CCI penalty of Rs 136cr on Google in search bias case

Walmart may rope in Google parent Alphabet for the Flipkart deal

Internet shutdown cost Indian economy $3 billion from 2012-17: Study

Flipkart and Amazon plan mega summer sales in May

International sales now account for 48% of Twitter's revenues

70% of mobile phones buyers in India opt for non-cash payments

Amazon India expects groceries & household products to account for 50% of business in 5 yrs

India to come out with a E-commerce policy framework in 6 months

Online learning platform Career Anna raises Rs 3 Cr funding

Wal-Mart will offer to buy up to 86% of Flipkart

Agritech startups Sabziwala and LivLush merge their business under new entity Kamatan

Avail Finance lands $17.2M from Matrix Partners & Ola, Freecharge and Flipkart founders

RBI suggests tax sops, self-regulation to build fintech space

Swiggy hires new CEO for its Access Service, gets new CFO

Logistics company Delhivery registers 44% increase in FY17 revenues

WeWork to acquire one of the oldest social networks, Meetup

Qualcomm rejects Broadcom's $103 billion offer

EasyRewardz gets $2 million Series-A funding

'Anemic' iPhone 8 demand drags Apple shares lower

Lending platform Lenden Club gets Rs 3.5cr in Equity Investment

On festive sales, Flipkart says 65% clients from Tier-II cities