airasia Digital, the new digital arm of airasia Group and Gojek, Southeast Asia’s leading mobile on-demand services and payments platform, today revealed a partnership, whereby airasia Digital will acquire Gojek’s operations in Thailand.
This win-win deal is expected to rev up expansion of the airasia Super App in Asean, while enabling Gojek to increase investments in its Vietnam and Singapore operations.
In return, Gojek will receive shareholding in the airasia Super App whose market value is estimated to be around USD1 billion. The deal provides both parties with a strong foundation to explore additional opportunities for collaboration and synergies in one of the fastest-growing regions in the world.
As part of its commitment to Thailand, the airasia Super App aims to continue to leverage the existing ecosystem services for riders, merchants and customers while adding new offerings, such as groceries and beauty items. It will seek regional expansion into new markets like Chiang Mai and Phuket in the near future.
The Gojek app will continue to operate for existing users in Bangkok through to 31 July 2021 to ensure stability for Gojek drivers and merchants - who will be invited to onboard the airasia Super App in coming weeks.
airasia will work with the existing Gojek team in Thailand, who will operate the Gojek business during the transition period before moving over to the airasia super app, bringing local market expertise and a deep understanding of Thai user needs to the business.
At the same time, in a realignment of its international strategy, Gojek is increasing investment in its Vietnam and Singapore operations, having identified these markets as strong sources of growth for the business going forward. This includes increased driver and merchant acquisition initiatives, enhancements to user experience as well as launching new products and services.
airasia Group CEO Tony Fernandes said today’s announcement is “the start of a tremendous long term strategic partnership with Gojek which is sure to rock the industry.
“By taking on Gojek’s well-established Thai business, we’ll be able to turbo charge our ambitions in this space.
“We already have a complete digital economy ecosystem. We have successfully established over 15 different non airline products and lifestyle services on our digital e-commerce platform in Malaysia. Now it’s time to take it to the next level. In response to overwhelming regional demand, we are setting our sights on bringing our Super App offerings to all of our key markets, following the successful roll out in Thailand.
“All of our digital businesses are going from strength to strength and through this alliance, our goal of becoming the Asean Super App of choice is fast becoming a reality.”
Gojek CEO Kevin Aluwi, said, “This deal is a testament to the accomplishments of our team in Thailand, who grew the business from nothing to an on-demand service provider that has made a difference to hundreds of thousands of people throughout the country. The business was built on a huge amount of talent and passion and we will of course, work closely with our Thai employees as well as airasia through this transition. We are proud of and deeply grateful for everything Gojek Thailand has achieved, as well as for our loyal Thai consumers and driver and merchant partners, who have always been at the heart of what we do.
“airasia Digital and the airasia Super App will become a highly valued partner for us as we share the same goal to provide users with better services, while enhancing the livelihoods of drivers and merchants. At the same time, the deal will enable us to pivot our focus in international markets towards Vietnam and Singapore - markets providing us with the best return on investment and strategic growth opportunities.”
President of airasia Digital, Aireen Omar, said the announcement of this collaboration delivers proof of the success of our digital transformation and pivot from an airline to a one stop lifestyle super app, anchored on travel.
“What we have achieved in the past year is incredible, including changing the mindset of thousands of Allstars (staff) from an airline mentality to becoming digitally focused, which is no mean feat. The airasia Digital group consists of three key digital companies, namely the airasia Super App which provides a lifestyle platform for travel, e-commerce, financial services, farm to table, health and edutech products and services. Our logistics venture Teleport, is the fast growing e-commerce logistics company, ready to offer instant door-to-door deliveries as well as delivering within 24hrs across all of Southeast Asia and airasia’s BigPay fintech business is now on track to become the region’s first virtual bank.
“The future is exciting as we continue to forge ahead with many new innovations to truly embrace the digital era and make a difference to people’s everyday lives.”
Meanwhile, on behalf of AirAsia Thailand’s major investor, AirAsia Thailand Executive Chairman, Mr Tassapon Bijleveld said “The airasia brand is already strong in Thailand and we are thrilled to confirm this partnership today supporting the upcoming launch of the airasia Super App in the kingdom and cementing a long term future for Gojek’s employees, drivers and merchants. Not only will it support local SMEs and fresh food suppliers, but will also create more income-earning opportunities for delivery drivers in the new markets we aim to launch soon.
“Thai people are already ahead of the curve in embracing the digital revolution, mobile and real time activities including e-commerce, fintech and online entertainment are a way of life. I believe we can leverage what Gojek has already achieved in Bangkok and really take it to new heights to deliver greater convenience and price competition for the people of Thailand.”