burn

Grab and Gojek burn cash to keep gig drivers afloat

JAKARTA/SINGAPORE — Grab and Gojek, the biggest on-demand mobility startups in Southeast Asia, face competing financial crosswinds as they navigate the coronavirus outbreak, spending millions of dollars to support their drivers with an eye toward the ensuing recovery.

Demand for rides has spiraled downward by double-digit rates, leaving drivers struggling to make a living.

Amir, who drives a motorcycle for Gojek in Indonesia, is having trouble paying rent, and he is considering moving or skimping on food.

“My daily pay has fallen to 30,000 rupiah ($1.91),” he said. “It’s a third of what I made before the coronavirus epidemic.”

Both

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War of attrition: Grab and Gojek burn cash to keep gig drivers afloat

JAKARTA/SINGAPORE — Grab and Gojek, the biggest on-demand mobility startups in Southeast Asia, face competing financial crosswinds as they navigate the coronavirus outbreak, spending millions of dollars to support their drivers with an eye toward the ensuing recovery.

Demand for rides has spiraled downward by double-digit rates, leaving drivers struggling to make a living.

Amir, who drives a motorcycle for Gojek in Indonesia, is having trouble paying rent, and he is considering moving or skimping on food.

“My daily pay has fallen to 30,000 rupiah ($1.91),” he said. “It’s a third of what I made before the coronavirus epidemic.”

Both

Read More