26 May, 2024

In-Depth Analysis Of Gojek’s Business And Revenue Model

In earlier times, there was a very smooth execution of businesses as people used to have plenty of time for fulfilling their daily needs. Later, people tend to have less time than in their past scenario. The working duration of their jobs increased gradually, so they cannot spare more time for visiting the business premises offline. 

Later, due to the necessity of the evolution in businesses, there were many businesses that got introduced to mobile apps, and many issues of the people were solved as they could fulfill their needs online through an app. 

In Indonesia, businesses grow very well due to constant exposure to the changes in business techniques. However, the app was introduced, the entrepreneurs and the customers were still not satisfied. Hence, the rise of the super apps in the Market of Indonesia took place. 

There were many businesses that were included in these apps. These apps were Gojek, Paytm, Grab, Careem, etc. There was no other app except Gojek, which gained massive attention in the market. Moreover, the people loved the app’s usage, and the app’s downloads reached 190 million from all over. However, due to such growth of the super apps, the entrepreneurs were inspired to build their super apps.  

How Gojek Rose In Southeast Asia?

It is an Indonesian company that provides multi-services to the people. People can choose from the wide variety of services available through an app, and hence they can get access to many services through an app by performing a few clicks on their devices. 

The company has been delivering its services through an app for almost 12 years. It was founded in Indonesia on October 13, 2010, headquartered in Jakarta. Priorly in the beginning of the firm, it served only four services to their customers: making payments online, taxi-sharing, shopping online, and ordering meals online in 2010.

Later with further advancements, the company is currently serving 20 categories of services in six Asian countries. In addition, the company is the first to be listed in the ’50 companies that changed the world’, an article published in Fortune magazine, alongside becoming the first Indonesian company to be valued at over $1 billion. Thus, the colossal progress of the company compelled entrepreneurs to make a similar app.

Moreover, the Gojek like app is a platform through which enterprises receive a digitized platform. The entrepreneurs get an app with similar features like Gojek, which can be fully customized. Thus, business owners were attracted to create gojek like app for their ventures and implement the business model of Gojek into it to sustain itself in the market. Now, let’s consider the business and revenue model adopted by Gojek.

Let’s Dive Into The Business Model Of Gojek:

First of all, the business model of Gojek has its three stakeholders. The first ones are the customers, which can order any services through an app sitting in their homes. The second ones are the merchants, which can manage all the business operations mandatory for their businesses. Finally, the third ones are the drivers, who can adjust their working schedules according to their availability.

Value Propositions:

Gojek has the best value propositions for its customers, merchants, and drivers. Following mentioned are the value propositions mentioned for all their stakeholders:

Value Propositions: Customers

  1. Provide various services: The customers can select from the variety of services offered through an app along with the specific service provider assigned to the service by reading reviews and ratings of the previous customers.
  2. Bill payments: After selecting the service, the customer proceeds with the payments. Now, for making the payments, they can make it from any method they prefer.
  3. Gain the booked services: Once the payment process is completed, the customers wait to gain the reserved service. This is the exciting part of the business where the appropriate equipment for the service is selected. 

Value Propositions: Merchants

  1. Receive order requests: The request of the customer is sent to the merchants on the merchants’ app, and they accept the orders and initiate the preparation of the order.
  2. Keep the order ready until the driver arrives: A particular order is prepared and kept ready for delivery. This helps the drivers to reach the delivery destination on time. 
  3. Assign order to the driver: The merchant then assigns the particular order to the driver and updates the status as ‘dispatched’ in the customer app.

Value Propositions: Drivers

  1. Creation of account: The driver needs to create an account and login into an app by entering the basic information such as name, email, vehicle’s registered number, etc.
  2. Adjustable Working Hours: The drivers can set their availability by setting their status as offline according to their requirements.
  3. Additional Earnings: The driver can earn extra money whenever they are available for work apart from their busy schedule. 

Also Read: External Service You Must Use To Enhance Your Business

How Does Gojek Make Money?

Currently, Gojek has approximately 29.2 million monthly active users, so you can expect how much amount of revenue Gojek generates through its various streams mentioned below:

Commission from ventures

The app charges some amount of commission from the restaurant for each order generated from an app.

Commission from consumers

The consumers pay the fixed delivery charges according to the distance between the restaurant and delivery location to an app that counts as part of revenue streams.

Commission from drivers

Drivers receive the payments from an app which are transferred into the driver’s account after the specific criteria of the commission are charged.

Final Words:

Thus, you can get an idea that adopting the business and revenue model in your app like Gojek would help you to expand your business swiftly. The customers can quickly trust the adopted model of Gojek. As an entrepreneur, it becomes pretty tough to handle such a large customer base which seems to be manageable by the implementation of Gojek’s business and revenue model. 

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