GoJeka and Tokopedia Fusion

The Indonesian Delivery and payment company Gojek announced on Monday its merger with the E-commerce provider Tokopedia announced to GoTo Group. Without disclosing the value of the transaction, Gojek announced that the agreement was “the largest deal” in the history of the country.

The new company will be managed by Gojeks Andre Soelistyo as “Group“CEO and Patrick Cao of Tokopedia as Group President.

IPO of GoJek and Tokopedia

Without disclosing the value of the transaction, Gojek claimed that the agreement was the ” largest transaction inGoTo Companyhäft in der Geschichte des Landes”. The final objective should be a potential IPO with an expected valuation target be between 35 and 40 billion US dollars, Bloomberg reported in February.

The new company will be led by Gojeks Andre Soelistyo as Group CEO and Patrick Cao of Tokopedia as Group President. Kevin Aluwi remains CEO of Gojek and William Tanuwijaya will continue to lead Tokopedia. Andre Soelistyo will also head the Payments and Financial Services department, which is based in GoTo Financial is renamed.

The merger will probably help Gojek and Tokopedia to better compete against each other in the future larger regional competitors how to claim the Singapore-based company Grab and the Internet company SEA. SEA operates the E-commerce platform Shopee and a Digital Payments and Financial Services business and a market value of more than $ 112 billion.

Last month announced Tomb either of SPAC merger worth nearly $ 40 billion, to go public on the Nasdaq.

GOTO Group combines Gojek and Tokopedia

GoTo Group will combine e-commerce, on-demand and financial services from Gojek and Tokopedia. In 2020, their combined transactions amounted to more than 1.8 billion and their Gross transaction value to over $ 22 billion. The companies have together more than 100 million active users per month.

“Our business model is now even more diverse, stable and sustainable. We have Gojek’s high frequency mobility transactions combined with Tokopedia’s high quality e-commerce transactions. The GoTo Group will account for more than 2% of GDP in Indonesia. “- Patrick Cao, President of the GoTo Group

Translated by Coincierge.de

Soelistyo said that Gojek drivers will deliver more packages from Tokopedia in the future, while the two companies want to use their combined scale to focus on the Increase financial inclusion in the region.

The group is backed by prominent investors who have previously invested in Gojek or Tokopedia, including Alibaba, Tencent, Sequoia Capital India and the state Investor Temasek from Singapore.

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