In order to focus on key markets, the Indonesia-based ride-hailing and food delivery platform decided to say goodbye to the Vietnamese market in mid-September.
Gojek, the Indonesia-based ride-hailing and food delivery platform, has decided to say goodbye to the Vietnamese market on September 16, 2024, in a strategic move to consolidate its business operations.
The company said the decision is in line with the long-term growth strategy of its parent company, GoTo Group, the largest technology company in Indonesia.
“We have decided to close our business operations in Vietnam effective September 16, 2024,” Gojek said in a statement.
“This strategic decision is designed to enable the Company to focus on activities that can have a significant impact on the market in a sustainable manner, in line with GoTo’s commitment to achieving long-term sustainable business growth,” a Gojek representative added.
“We would like to express our sincere and deep gratitude to all employees, users, driver partners, and restaurant partners who have contributed and been an integral part of Gojek’s business in Vietnam. We will provide necessary support to all affected parties during this transition while complying with applicable laws and regulations,” the representative said.
In Indonesia, GoTo has established itself as the national champion and leading digital ecosystem in on-demand services (ODS) and financial technology (Financial Technology) through GoTo Financial. As the largest market in Southeast Asia, Indonesia still has a lot of room to grow and continues to grow, requiring more resources to allocate. In Q2 2024, Gojek’s gross transaction value (GTV) and number of completed orders increased by 18% and 24% year-on-year, respectively, reaching all-time highs.
Similarly, in Singapore, Gojek also saw its market share increase by 3 percentage points in Q2 2024. The Singapore market, known for its high average order value (AOV), continues to be a key market for GoTo.
Gojek’s decision to exit Vietnam after six years of presence reflects a broader industry trend as companies reassess their market presence to optimize growth. Similar moves are seen in other companies such as Shopee, which has withdrawn from all European and Latin American markets except Brazil./.
Source: https://baolangson.vn/cung-co-vi-the-dan-dau-tai-cac-thi-truong-trong-diem-gojek-tam-biet-viet-nam-5020491.html
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