JAKARTA -- Gojek, the Indonesian developer of a popular app aimed at satisfying a wide range of daily needs, announced Wednesday that it will shut down all but two of the lifestyle services offered on its platform.
The move comes as startups face increasing pressure to show a path to profitability. Investors are growing leery of cash-burning companies in the wake of the high-profile travails of U.S. office-sharing startup WeWork. Gojek's decision shows that Indonesia's only "decacorn," as startups valued at over $10 billion are called, is not immune from the trend.
