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Miguel Cordon · · 1 min readSources: Gojek, Tokopedia to form combined company Goto once $18b merger is finalized
“Gojek and Tokopedia, two of Indonesia’s biggest internet companies, are finalizing their US$18 billion merger to create a giant in ride-hailing, food delivery, and ecommerce,” The Information reported, citing people familiar with the matter.
Details:
- The deal is expected to be completed as early as this month.
- The combined entity is set to be called Goto, pronounced as “go to,” and will include two executives each from Gojek and Tokopedia: Gojek’s co-CEOs Andre Soelistyo and Kevin Aluwi, and Tokopedia’s CEO William Tanuwijaya and president Patrick Cao.
Context:
- The development comes after Grab announced it was going public in the US through a merger deal with special purpose acquisition company Altimeter Growth, which valued the firm at roughly US$39.6 billion.
- It’s anticipated that Grab’s financial debut will kick off a spree of listings by Southeast Asian giants, including Traveloka and PropertyGuru, as well as Gojek and Tokopedia.
Editing by Collin Furtado and September Grace Mahino
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