Go-Jek is only Southeast Asian company to make Fortune's Change The World list
By Digital News Asia September 13, 2017
- Chosen for its social impact, strong business value and innovation
- Stands alongside Apple, Microsoft, Unilever, and many more
GO-JEK, the app-based on-demand service provider made it into the list of 56 Companies That Change the World according to Fortune Magazine.
Go-Jek ranks 17th, alongside other companies such as Apple (third place), Unilever (21st), Microsoft (25th), and more.
That makes Indonesia's first unicorn the only company from Southeast Asia to make it into the list.
"This is the result of a collaboration with numerous parties that continue to support Go-Jek. Aside from our gratitude to the public and hundreds of thousands of our driver partners, talents and Go-Jek's MSME partners that continue to be committed to giving the best service to customers, we would also like to thank the government which plays an instrumental role in promoting digital economic growth in Indonesia," said Go-Jek CEO and founder Nadiem Makarim (pic).
"This acknowledgement motivates us to sustain our commitment in making positive contributions to the government's vision to make Indonesia the largest digital economy powerhouse in Southeast Asia by 2020, as conveyed by President Joko Widodo," he continued.
The "Change the World" list includes companies that made substantial social impact through their main business strategies.
Fortune's official website said that a priority was given to companies with an annual income that exceeds US$1 billion.
"We are focused on companies that do well by addressing various social problems. There were thousands of companies that we evaluated, from every corner of the globe," said Matthew Heimer, Fortune Features editor in an official video for Change the World.
"The world list contains familiar names, but, we also put a spotlight on companies you might have never heard of before but you need to know more about. Fewer people than ever have confidence in government to solve important social problems and challenges. So, this list is about having that spotlight through their core business and making that happen," he added.
Fortune said that on-demand services company Go-Jek has jolted the economies of even famously gridlocked cities like Jakarta, where small businesses have seen their sales soar once they've registered on the company's platform.
Its 300,000 driver partners are doing well, they all also get to enjoy various health benefits, insurance, safety training, even microfinancing loans.
Aside from the social impact, Go-Jek has been contributing efforts to promote financial inclusion and cashless culture in Indonesia.
All of Go-Jek partners - most of whom were formerly unbankable- now are not only bankable, as also have the opportunity to access numerous financial services including insurance, long-term deposit as well as mortgages.
Most of the customers (more than 50%) have been using Go-Pay, the company's payment system, making it one of the fastest growing e-money providers in the country.
Go-Jek has been downloaded more than 44 million times as of July 2017.
The "Change the World" list was made with painstaking care. In the early stages, Fortune worked together with various independent parties, including FSG, a non-profit consulting firm that is focused on social impact; Shared Value Initiative, a global platform for institutions that seek business solutions to social challenges; and with Professor Michael E. Porter from Harvard Business School.
There are three components involved in choosing companies to be inducted into the list. The main one being measured social impact. Another component is the company's business value and innovation grade -- thus able to inspire other companies to follow in their footsteps in making the same social impact.
"The evaluation categories are in harmony with Go-Jek's main pillars, namely social impact, speed, and innovation. We hope to be able to further inspire other Karya-Karya Anak Bangsa Indonesia (Indonesian homegrown companies) that focus on various social challenges in Indonesia and provide innovation and technology-based solutions," Nadiem said.
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