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Big Asia merger creates $18 billion ride-hailing and e-commerce group

Big Asia merger creates $18 billion ride-hailing and e-commerce group
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Indonesia's Gojek, Tokopedia to merge as GoTo Group


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Indonesia s Gojek, Tokopedia to merge as GoTo Group
Indonesian ride hailing company Gojek and e-commerce firm Tokopedia said Monday that they are merging, in the largest ever deal in the country’s history
By ZEN SOO AP Technology Writer
May 17, 2021, 7:31 AM
• 2 min read
SINGAPORE Indonesian ride hailing company Gojek and e-commerce firm Tokopedia said Monday that they are merging to form the GoTo Group.
The companies said the deal was Indonesia s biggest ever, based on historical fundraising rounds for Gojek, priced in 2019 and Tokopedia, priced in early-2020, that put the combined past valuations of both companies at $18 billion. ....

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Indonesia's Gojek, Tokopedia to create biggest local tech group


Publishing date: May 17, 2021  •  1 hour ago  •  3 minute read  • 
Article content
SINGAPORE Indonesian ride-hailing and payments firm Gojek and e-commerce leader Tokopedia are merging to create a multi-billion dollar tech company called GoTo in the country’s largest-ever deal, as rivals bulk up in the fast-expanding sector.
The combined entity, which will span online shopping, courier services, ride-hailing, food delivery and other services in Southeast Asia’s largest economy, will be the biggest privately held technology firm in the region. It plans to list in Indonesia and the United States later this year, company executives said on Monday.
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Gojek Tokopedia merger creates $18 billion ride-hailing and e-commerce group


Gojek Tokopedia merger creates $18 billion ride-hailing and e-commerce group
CNN
2 hrs ago
By Diksha Madhok, CNN Business
© Juni Kriswanto/AFP/Getty Images
Gojek riders wait for orders at a distribution center in Surabaya, Indonesia on May 17, 2021.
Gojek and Tokopedia two of Indonesia s biggest startups have agreed to merge to create the largest tech group in the country and one of the biggest ride-hailing and e-commerce companies in southeast Asia.
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The new entity will be called GoTo Group, the two companies said in statement Monday, and is backed by tech heavyweights including Alibaba, Tencent, Facebook, Google and SoftBank.
Based on fundraising carried out in 2019 and 2020, the combined value of the two companies is at least $18 billion, making this union the largest ever between two Asian Internet companies, the statement added. ....

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Big Asia merger creates $18 billion ride-hailing and e-commerce group

Gojek and Tokopedia two of Indonesia's biggest startups have agreed to merge to create the largest tech group in the country and one of the biggest ....

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