Founded in 2014, ofo is the world’s first and largest “station-free” bike-sharing platform operated via an online mobile application.
The development of ofo platform was inspired by the concept of sharing economy and facilitated by smartphone technology, aiming to tackle “the last mile” challenge in urban areas.
Users accumulated a riding distance of over 1.2 billion kilometers, reducing 84 million liters of fuel consumption and 265,000 tons of carbon dioxide from just April to June of 2017 alone.
As of today, ofo is ramping up operations in over 200 cities across 19 countries. It generates 32 million transactions daily and has provided over 200 million global users with 4 billion efficient, convenient and green rides.
In July 2017, ofo has completed Series E funding of US$700 million, becoming the world’s biggest and most valued bike-sharing company.
ofo’s bike-sharing system requires no fixed docking stations, providing significant flexibility for users to find and return bikes. This revolutionary model brings true flexibility and convenience to users and ensures that all users have access to ofo bikes anytime anywhere. As more people switch to ofo bikes from care for short-distance travel, they do only not get more exercise by riding, but also helps reduces traffic congestion, fuel consumption and thus air pollution.
ofo platform is easy-to-use. After downloading ofo mobile app (iOS/Android), users may scan the QR code or enter the plate number displayed on each bike to receive a passcode to unlock the bike. Once reaching destination, users may park the bike in any authorized parking areas nearby their destination and lock the bike to end their ride. Users can get additional Credit Score if they park bikes in the recommended parking zone or operating zone. Credit Score can be used to redeem rewards under our ofo Rewards program.
Sea Sea’s mission is to better the lives of the consumers and small businesses of Greater Southeast Asia with technology. Greater Southeast Asia includes the key markets of Indonesia, Taiwan, Vietnam, Thailand, the Philippines, Malaysia, and Singapore, which collectively had 585.3 million people and US$3.0 trillion of GDP in 2016. Sea operates three platforms across Digital Entertainment, E-Commerce, and Digital Financial Services, known as Garena, Shopee, and AirPay, respectively. Sea’s platforms are supported by over 5,000 employees across seven markets.
GO-JEK is the leading on-demand services platform in Indonesia founded in 2010 that is committed to empower informal sectors and SMEs in Indonesia through technology by connecting users to more than 1 million driver partners, more than 125.000 food vendors, and more than 30.000 other services. GO-JEK has various services ranging from transportation, food delivery, groceries, beauty and wellness treatments, house cleaning to logistics, as well as mobile payment and loyalty programs just to name a few. GO-JEK champions 3 essential values: speed, innovation, and social impact. The inspiration behind the name “GO-JEK” comes from the term “Ojek” or motorbike taxis commonly found throughout Indonesia. As a loyal Ojek user, Nadiem discovered that ojek drivers spend most of their time waiting for orders. From his observation, he came up with a business idea to fix this problem by providing a platform where drivers can spend their time efficiently and therefore increase their income which became the start of GO-JEK. In that sense, GO-JEK was founded on the principle of using technology to improve the lives of Indonesians, providing them access to products and services, helping to create more value for society, improving efficiency and productivity and improving financial inclusion.
Initially, GO-JEK was established in 2010 as a ride-hailing phone service but as of January 2015, the company launched GO-JEK Android and iOS app. GO-JEK application has been downloaded more than 60 million times in Indonesia, it has over 900,000 registered drivers throughout the country and it facilitates over 100 million transactions per month. A few months later, GO-JEK focused on their expansion efforts throughout Indonesia by diversifying their business and expanding their scope of service.
Up until March of 2018, GO-JEK has expanded to 50 cities in Indonesia offering 17 business units that provides GO-JEK’s customer an app that could serve various demands.
Website: https://www.go-jek.com/ The GO-JEK app is available for iOS and Android and can be downloaded throughwww.GO-JEK.com/app.
Intudo Ventures is an Indonesia-focused independent venture capital firm with a concentrated portfolio strategy that is capitalizing on the rapid growth of private consumption in Indonesia (260M population). Intudo invests in:
(1) Indonesian homegrown early-stage companies led by best-in-class "S.E.A. Turtle" returnee and local founders in the consumer, finance, healthcare and education sectors (“Target Sectors”); and
(2) and brings overseas breakout companies in the Target Sectors from Silicon Valley, Greater China, Singapore and other emerging markets into Indonesia and/or co-founds and invests in joint ventures we stitch together among such overseas breakout companies, leading Indonesian conglomerates and online/offline distribution partners, best-in-class "S.E.A. Turtle" returnee and local founders and ourselves.
The firm is led by a team of seasoned founders and venture investors comprised of founding partners Eddy Chan (based in Silicon Valley, Indonesia and Taiwan) and Patrick Yip (based in Indonesia) and is advised by founding advisor Timothy Chen (based in China, Hong Kong and Taiwan).
The founding team has invested in dozens of early-stage companies in Silicon Valley, Indonesia, Greater China and Singapore since the 1990s, including PayPal, SpaceX, Palantir Technologies, EV Hive, Ride Jakarta, EMQ and BeliMobileGue.
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.