Grab vs Gojek: can there be more than one?

THE ride-hailing war in South-east Asia has taken a public turn, with Grab listed on Nasdaq while GoTo is seeking an initial public offering on the Indonesia Stock Exchange. Would going public see a duel to the last man standing in ride-hailing?

Market conditions in the region are quite different from four years ago in March 2018 when Grab acquired Uber's business in South-east Asia, bringing to an end a price war that saw smiles from drivers and riders alike.

Gojek, perhaps seeing the writing on the wall, moved into Singapore, Vietnam, Thailand and Philippines, signalling its entry into the ride-hailing market outside of Indonesia for the first time in May 2018. Without Uber in the picture, Gojek could not allow Grab to monopolise markets outside of Indonesia to fund its battle there. Gojek would eventually fail to enter the Philippines after failing to get a ride-hailing licence there.