Gojek And Ecomm Firm Tokopedia To Merge
- ByStartupStory | May 17, 2021
Gojek and Ecomm firm Tokopedia will be merging. The deal between Gojek And Ecomm Firm Tokopedia is expected to boost both firms’ profitability and help make Gojek’s vision of becoming an A to Z superapp a reality.
The merger between Gojek and Ecomm Firm Tokopedia is expected to lead to an IPO that would value the new entity GoTo at $35-40 billion, according to Bloomberg.
The deal between Gojek and Ecomm Firm Tokopedia pegged at around$18 billion according to sources cited by Reuters, is the biggest in Indonesia, so far, and is expected to eventually lead the combined company, called GoTo, closer to an initial public offering.
The merger between Gojek and Ecomm Firm Tokopedia combines Gojek’s ride-hailing and financial services unit, with Tokopedia’s ecommerce business, boosting Gojek’s reach to beyond just Indonesia. Together, the companies have more than 100 million monthly active users.
Gojek’s Andre Soelistyo who will act as group CEO said regarding the Gojek and Ecomm Firm Tokopedia merger
“Today is a truly historic day as we mark the beginning of GoTo and the next phase of growth for Gojek, Tokopedia and GoTo Financial. Gojek drivers will deliver even more Tokopedia packages, merchant partners of all sizes will benefit from strengthened business solutions, and we will use our combined scale to increase financial inclusion in an emerging region with untapped growth potential,”
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