Gojek, Tokopedia merge to new Southeast Asian e-commerce giant GoTo

New e-commerce giant GoTo plans stock listing in US and Indonesia

Two of Indonesia’s largest e-commerce companies, ride-hailing and payments firm Gojek and online marketplace operator Tokopedia, have finally announced details on their long-planned merger and said they are combining their various digital businesses under a new company called GoTo.

In the new firm, shareholders of Gojek will own 58% and owners of Tokopedia the remaining 42%, the companies said. GoTo will be led by Tokopedia CEO William Tanuwijaya and president Patrick Cao, alongside Gojek’s co-CEOs Andre Soelistyo and Kevin Aluwi.

The new company has three core businesses, which are ride-hailing, e-commerce and digital finance.

Gojek and Tokopedia are the two most successful tech-empowered startups in Indonesia, carrying valuations of $10.5 billion and $7.5 billion, respectively, bringing the combined valuation of GoTo to $18 billion.

Gojek has around two million driver-partners and 900,000 small and medium enterprise merchants, while Tokopedia claims to have 9.9 million merchants on its marketplace.

Plans are to go public in the near future. Analysts estimate the valuation of the merged company at between $30 billion and $40 billion at a potential initial public offering, which could be a dual listing in Jakarta and New York.



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New e-commerce giant GoTo plans stock listing in US and Indonesia Two of Indonesia's largest e-commerce companies, ride-hailing and payments firm Gojek and online marketplace operator Tokopedia, have finally announced details on their long-planned merger and said they are combining their various digital businesses under a new company called GoTo. In the new firm, shareholders of Gojek will own 58% and owners of Tokopedia the remaining 42%, the companies said. GoTo will be led by Tokopedia CEO William Tanuwijaya and president Patrick Cao, alongside Gojek’s co-CEOs Andre Soelistyo and Kevin Aluwi. The new company has three core businesses, which are...

New e-commerce giant GoTo plans stock listing in US and Indonesia

Two of Indonesia’s largest e-commerce companies, ride-hailing and payments firm Gojek and online marketplace operator Tokopedia, have finally announced details on their long-planned merger and said they are combining their various digital businesses under a new company called GoTo.

In the new firm, shareholders of Gojek will own 58% and owners of Tokopedia the remaining 42%, the companies said. GoTo will be led by Tokopedia CEO William Tanuwijaya and president Patrick Cao, alongside Gojek’s co-CEOs Andre Soelistyo and Kevin Aluwi.

The new company has three core businesses, which are ride-hailing, e-commerce and digital finance.

Gojek and Tokopedia are the two most successful tech-empowered startups in Indonesia, carrying valuations of $10.5 billion and $7.5 billion, respectively, bringing the combined valuation of GoTo to $18 billion.

Gojek has around two million driver-partners and 900,000 small and medium enterprise merchants, while Tokopedia claims to have 9.9 million merchants on its marketplace.

Plans are to go public in the near future. Analysts estimate the valuation of the merged company at between $30 billion and $40 billion at a potential initial public offering, which could be a dual listing in Jakarta and New York.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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