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It's Official. Indonesia's Gojek, Tokopedia Merge in Country's Biggest Deal

It's Official. Indonesia's Gojek, Tokopedia Merge in Country's Biggest Deal

Ride-hailing giant Gojek and marketplace Tokopedia said on Monday they have combined their businesses to form GoTo Group, the largest technology group in Indonesia, the fourth most populous nation that is currently navigating to contain the economic fallout from the coronavirus pandemic.

The deal comes as Gojek and Tokopedia seek to boost profitability some 10 years after they were founded by offering a bouquet of services under a single platform, extending a regional trend.

Keterangan Gambar (© Pemilik Gambar)

Gojek’s Andre Soelistyo will lead the combined business as GoTo Group CEO, with Tokopedia’s Patrick Cao serving as GoTo Group President. Kevin Aluwi will continue as CEO of Gojek and William Tanuwijaya will remain CEO of Tokopedia, the two firms said in a joint announcement.

The combined entity, valued at about $18 billion, is “a globally unique and highly complementary ecosystem,” the two firms said, claiming that GoTo features:

  • Total Group Gross Transaction Value (GTV) of over US$22 billion in 2020
  • Over 1.8 billion transactions in 2020
  • Total registered driver fleet of over two million as of December 2020
  • Over 11 million merchant partners as of December 2020
  • Over 100 million monthly active users (MAU)
  • An ecosystem that encompasses 2% of Indonesia’s GDP

Keterangan Gambar (© Pemilik Gambar)

“The companies will continue to thrive and coexist as stand-alone brands within the strengthened ecosystem,” they said on Monday.

Existing investors — including Alibaba Group, Astra International, BlackRock, Capital Group, DST, Facebook, Google, JD.com, KKR, Northstar, Pacific Century Group, PayPal, Provident, Sequoia Capital India, SoftBank Vision Fund 1, Telkomsel, Temasek, Tencent, Visa and Warburg Pincus — backed the merger, the two firms said.

Last month, Southeast Asia's biggest ride-hailing and food delivery firm, Grab, clinched a $40 billion merger with a special purpose acquisition company. Meanwhile Singapore-based regional internet firm Sea Ltd, which operates e-commerce platform Shopee, is also muscling into food delivery and financial services.

(Multiple sources)

Akhyari Hananto

I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to More understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia. I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine. I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan" I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy Less
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