Unicorns Like Gojek Rising in the Hottest Destination for Startup Capital Asia With the Strategy Survival of the Fittest
Global Interest in Asia for evolving startups and tech valuations:
The unicorn term is associated with Silicon Valley – home to the globe’s largest billion-dollar startups. But the true hub, if we check the numbers, is Asia. Global interest rates that are sinking near ancient lows, shifting demographic trends and evolving technologies have all added to the extensive fundraising development across China and Southeast Asia over the last few years.
Following powerful yields in a low interest-bearing setting has become a pattern for investors. This has boosted the region’s startup scene to raise its contour and attractiveness. However, the gap between high-flying tech estimates and conventional evaluation methods remains to increase, highlighting a transformation from considering a theoretical study to diverse metrics like user growth and community value.
But even with the widespread application of these metrics they frequently fail to provide a satisfactory image of a company’s fundamental value. Instead of highlighting financials, businesses promote their “disruptive” character in presentations packed with buzzwords meant to impress but not inform.
The investors are threatened that the unicorns proceed to bleed cash to obtain new users while hoping to draw other investors for additional financing. Asia is the hottest destination for startup capital. This energy is affirmed due to an expanding middle-class demographic beyond Southeast Asia and China. Despite everything, during the first half of 2019, the companies raised approximately US$6 billion.
But there are concerns that the capital is concentrated in a few great companies like Gojek. And if you are not ready with the right technology, you can never survive the throat-cutting competition in the industry.
Why should you build a Gojek clone app?
The on-demand economy is increasing by the minute as the crowds around the world are getting habitual to the services of the on-demand market. The savings are sweeping in from all sides and it includes the ability to change the conventional economy. Now a new technology or app has appeared named GoJek, Uber’s rival introduced in Indonesia and it has succeeded to achieve this feat in a short period.
Statistics of the On-Demand Market
The latest statistics depict that the on-demand economy is growing at a fast pace and it is predicted to hit a $335 Billion mark by the end of 2025. Approximately 37% of the total US population adopt on-demand services regularly. The most used on-demand services being the helper.
GoJek offers 50+ in-app services under 3 subcategories. From transport to babysitting and from food delivery to P2P payments, the app has it all.
The customers and partners can register or hire/ deliver for the needed on-demand services. GoJek app is praised to be a super app of on-demand services. As the customers obtain the demanded services, the payment is deducted from the card or paid via cash.
How does Gojek complete millions of orders in a day?
To make it possible for the Gojek app to complete millions of orders in a day, machine learning plays a very crucial role. It allows the Gojek app to complete the orders for more than 20 different products and services. The platform has generated machine learning-based technology to ensure a balance among the number of drivers and the huge surge in demand in an area.
They have applied the same system for the GoFood menu label management process. It enables the customers to immediately find the food of their choice. This is because GoFood automatically presents personalized lists according to the inclinations and favorites of each customer. The system is advantageous for GoFood merchants as they can produce more targeted advertisements and increases their turnover by 3.5 times.
Gojek has committed to supporting the startup industry in Indonesia and Asia, the company has parted its experience and expertise in machine learning with the five startups picked to participate in the program called Gojek Xcelerate Accelerator Powered by Digitaraya – Machine Learning Batch.
GoPay is the digital payment platform from Gojek which is becoming more and more popular among the audiences. According to a recent update, Boku has partnered with GoPay to extend mobile payment services in Indonesia. The partnership depicts the growing popularity of e-wallets as the primary payment mechanism for multiple purposes like transportation, recurring entertainment subscriptions, and in-app and in-game micro-purchases.
Indonesia’s e-wallet market is estimated to be the fastest-growing fintech segment in with predicted growth from USD 1.5 billion in 2018 to USD 25 billion in 2023.
How to build a Gojek clone app?
The success of the Gojek app is visible in every arena of on-demand services. Several entrepreneurs are looking to create a niche in the on-demand market and can choose Coruscate as their technology partner.
With our white-label solution, you can customize the app according to your own specifications, requirements, and purpose.
Here are the basic features of a GoJek Clone app that we offer:
- User Interface
- User Accounts
- Booking Preferences
- Multiple payment systems
- Availability options
- Rewards and Incentives
We provide an end-to-end development approach and we can get you the best Gojek clone app at a cheap price. We also offer white label solutions for FinTech app development, Food delivery apps and even mobile payment solutions.