Phung Tuan Duc, co-founder and former chief operating officer, will lead the company’s next phase of growth, the company stated in a release.

Having entered Vietnam as an affiliate of Indonesia’s Gojek in August 2018, the firm will be rebranded as Gojek Vietnam, with Duc to lead the execution of strategy and shape product development.

GoViet in less than two years of existence in Vietnam has seen major changes in its senior executive titles.

Co-founder Nguyen Vu Duc resigned from the general director chair in March last year, and in April former Facebook Vietnam executive Le Diep Kieu Trang took over until September last year. The chair has been empty since.

GoViet offers ride-hailing, delivery and food delivery services in Hanoi and Ho Chi Minh City. It has served millions of customers so far, and created income-earning opportunities for 150,000 driver-partners and 80,000 merchants.

It recorded 100 million bookings in the first year of operation and doubled that figure six months later.

Its main competitors in Vietnam are Singapore-based Grab and local player Be.

Vietnam’s ride-hailing market was the fourth largest in Southeast Asia last year behind Indonesia, Singapore and Thailand, according to a report by Google.

ABI Research estimated the market at $1.1 billion last year and said it could rise to $4 billion by 2025.