Lenny's Podcast · Mar 26Taxi mafias, cash vaults & 100% MoM growth: The story of SEA’s biggest startup | Kevin Aluwi (Gojek)
Started with about $2 million raised against a rival's $250 million and won through brand and hard operational work like cash vaults and private security for drivers. It grew over 100% month on month for 16 to 18 months after its 2015 launch, reached 2.7 million drivers, 15 million merchants and 3 billion orders, and had a $1 billion+ IPO at a $27 to 28 billion valuation.
Tips
- Give every service in a multi-product app one unifying concept▶ 12:36Only 30 to 40 percent of customers knew they could top up mobile credit in the app, even though 95 plus percent needed it and it sat on one of six home page buttons.
- Do not assume a super app lowers acquisition cost or lifts retention▶ 14:38Gojek had near 30 services at its peak, yet a universally relevant product like mobile top-up was unknown to most users.
- Turn your branded physical assets into visible proof of your service▶ 24:45It helped Gojek keep leadership in Indonesia even though competitors had more money for discounts and driver incentives.
- Build consistent brand across every touchpoint, including copy and in-app design▶ 19:50Gojek was the first company of scale in its market with this self-deprecating ad style.
- Build product features around local cultural behaviors that rivals avoid▶ 21:48This helped Gojek hold leadership even though rivals had more money for discounts and driver incentives.
- Invest in brand early when you are far outspent by competitors▶ 16:42In the first six months Gojek had raised about $2 million while its regional competitor had raised $250 million, over 100 times more.
- Copy the top features of fraudulent third-party apps instead of fighting them▶ 32:00This significantly reduced the number of users on the third-party apps.
- Cover missing infrastructure with manual operations until a scalable solution exists▶ 28:12The cash booths served tens of thousands of drivers across Indonesia before the bank and ATM integration.
- Treat doing hard things as your moat instead of relying on features▶ 33:40Gojek ran cash vaults and a private security operation that better funded rivals did not match.
- Fund driver or supplier safety to build lasting loyalty against higher-paying rivals▶ 36:57Driver loyalty held even as competitors came in paying more money.
- Do the jobs yourself as a founder to learn what excellent looks like▶ 41:15Driving the first car ride on the app, he did a laundry detour for little pay, which led him to back waiting fees and multiple stops in the driver app.
- Build remote work capability early when starting outside a tech hub▶ 49:32Gojek built the Bangalore engineering center in 2015, well before remote work became common.
- Build for your local market's unique problem instead of cloning a US company▶ 50:44Competitors entering motorcycle ride hailing did not brand their drivers because they came from a car-centric view.
- Make the person accountable for a result also the decider▶ 1:00:57Kevin says execution improved significantly after the switch.
- Expect very fast adoption in developing markets once product market fit exists▶ 53:11After the 2015 app launch, Gojek grew more than 100 percent month on month for the first 16 to 18 months, which Sequoia called the craziest growth story they had heard.
