Everything You Need To Know About J&T Express
J&T Express, or PT Global Jet Express, is an Indonesian express delivery and logistics company that was founded in 2015. When the company started, the name of the company was PT Global Jet Express. Right now, J&T Express has more than 350,000 employees all over the world.
The company saw unexpected growth since the beginning days. There has been rapid growth that the company has experienced. J&T Express started in Indonesia and then expanded into Malaysia, the Philippines, Vietnam, Cambodia, Singapore, Thailand, China, Brazil, Mexico, Saudi Arabia, Egypt, and UAE. In Indonesia, there are only two decacorn, and J&T Express is one of them.
In the last of 2021, the valuation of the company reached $20 billion. And it was the same time when J&T Express was ranked as the 16th largest unicorn all over the world.
Let’s know more about the company.
Here is the basic information about J&T Express.
|Company Name||J&T Express|
|Founders||Jet LeeTony Chen|
|Key People||CEO- Jet Lee|
|Area Served||⦿ Indonesia|
⦿ Saudi Arabia
⦿ United Arab Emirates
Jet Lee was the former CEO and one of the founders of Oppo Indonesia. He left the company and, along with Tony Chen, he founded J&T Express in 2015. The meaning of the company’s name is “speedy rabbit.” Which is the focus of the company to deliver fast. Also, the company experienced a rapid boost in its journey.
In 2018, the company started to expand to Vietnam and Malaysia. After that, in 2019, the company reached Cambodia, Thailand, and the Philippines to expand its business. In 2020, it was time to go to China and Singapore. And this is how the company spread into so many different countries from one to many.
Last year, the company expanded in the UAE, Mexico, Saudi Arabia, and Egypt. The company also got Indonesian Top Brand Awards consecutively for two straight years. You must know that there are only two decacorn companies in Indonesia, and J&T Express is one of them.
The company achieved a milestone by launching premium air freight. 2021 was the year when the company launched all-cargo aircraft. By the end of 2021, the company raised funding of $2.5 billion. And this was the time when the company reached another milestone which was a $20 billion valuation. The main investors of the company at that time were Sequoia Capital China, Boyu Capital, Tencent Holdings, and Hillhouse Capital Group.
There was a report that the company wanted to go public in Hong Kong in 2022, but it could not execute its plan. At the same time, companies like Morgan Stanley, Bank of America, and CICC were preparing for their IPO. In 2021, the company took a decision to acquire BEST Inc., which was a Chinese logistics operation company, and they acquired it by spending $1.1 billion.
J&T Express then started to venture into other continents. First, in 2022, it expanded into the UAE and Saudi Arabia. Then it started to expand to Latin America and spread to Mexico. The company announced that it would make another headquarters in Riyadh, Saudi Arabia. The intention was to be the largest logistics industry in every region.
By the year 2022, the company was successful in reaching and expanding its network in 13 countries. Right now, the company has its reach in the LEAP and MENA regions. In 2019, the company was the fourth-largest delivery company in all over the world. J&T Express is the eighth unicorn company in Indonesia. In 2021, the valuation of the company was $8 billion. Hurun Index ranked the company in the 16th position on their unicorn list.
COVID- 19 Pandemic
COVID-19 affected almost every industry. But it was a blessing for J&T Express as the increase of the company was 50%. At that time, the company handled more than three million packages every day. The company also gave aid packages in different cities, such as Tangerang and Surabaya. J&T Express used to spread medical aid to hospitals as well.
Frequently Asked Questions (FAQs):-
Here are some interesting questions and answers that most people ask about J&T Express.
Ans: The owners of J&T are Jet Lee and Tony Chen. There are people who think that J&T Express is a Chinese company, but they are wrong. The meaning of the Chinese name is “speedy rabbit.” The company was founded in 2015. Jet Lee, who is one of the founders, used to be the CEO of Oppo Indonesia. He was also of the founding members of the smartphone brand in 2004.
Ans: In simple words, J&T Express is an international courier express company. The company is well-known for pick-ups and deliveries. The service is one of the fastest in the industry. The tagline of J&T Express is “Express Your Online Business.” The company also claims that it fulfills the core of an e-commerce express. Also, the company recently started chartering planes.
Ans: Yes, the company is famous for its fast deliveries. The company can deliver parcels within 24 hours. This is called next-day delivery. There is a cut-off time, and consumers have to deliver within the time stipulated. Also, the cut-off time is based on different things, like customer segments. And all these factors are exclusive to public holidays
Though all the success stories, J&T also became a $20 billion valuation within 7 years, there were a couple of controversies in the last couple of years. There was mishandling of the packages in the Philippines. There are also some lost packages and wrong deliveries as well. But there is no way that someone can deny that J&T Express is in the fourth position when it comes to delivery services.
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