Indonesian ride-hailing and online payment company Go-Jek is set to announce its first expansion to another country in Southeast Asia in the "next few weeks", according to an internal company email seen by Reuters.
Go-Jek also plans to expand to three other Southeast Asian countries by the middle of this year, the email quoting Go-Jek Chief Executive Nadiem Makarim said.
News of the plans come after Uber Technologies Inc agreed this week to sell its Southeast Asian business to regional rival Grab. The industry's first big consolidation in Southeast Asia, home to about 640 million people, could put pressure on Go-Jek, which is backed by Alphabet Inc's Google and China's Tencent Holdings.
Makarim described that Uber deal as a "great opportunity"because "fewer players means a smoother path to continued and deepened market leadership" for Go-Jek in Indonesia.
Ride-hailing companies throughout Asia have relied heavily on discounts and promotions, driving down profit margins and increasing pressure for sector consolidation.