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Indonesia's Gojek, Tokopedia merge to create tech champion | Money


Monday, 17 May 2021 03:34 PM MYT
The deal comes as Gojek and Tokopedia each backed by global heavyweight investors seek to boost profitability some 10 years after they were founded by marrying their services in one bouquet under a single platform. It also extends growing consolidation among Southeast Asia’s fast-moving tech startups. Reuters pic
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SINGAPORE, May 17 Indonesian ride-hailing and payments firm Gojek and e-commerce leader Tokopedia announced a multi-billion dollar merger of their businesses on Monday, creating a technology powerhouse called GoTo Group in the country’s largest-ever deal. ....

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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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Gojek, Tokopedia Create GoTo in a Landmark Merger Deal


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This undated photo shows a Gojek s driver-partner delivering a Tokopedia parcel in Jakarta. (Photo courtesy of Gojek)
Gojek, Tokopedia Create GoTo in a Landmark Merger Deal
BY :JAKARTA GLOBE
MAY 17, 2021
Jakarta. Indonesian digital services company Gojek and Tokopedia have unveiled on Monday that they had agreed to combine the former s mobile on-demand services and payments platform and the latter s marketplace into GoTo Group, creating a new $18-billion entity that encompasses about two percent of the country s economic output. 
Gojek and Tokopedia would continue operation as stand-alone brands under the GoTo ecosystem alongside a new brand of GoTo Financial, which comprises Gojek s payment system Gopay and other financial services offering.  ....

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Gojek, Tokopedia announce GoTo Group creation through merging services


Gojek, Tokopedia announce GoTo Group creation through merging services
1 hour ago
Gojek and Tokopedia merger. ANTARA/HO
Today is a very historical day, with the formation of the GoTo Group while at the same time marking the next development phase for Gojek, Tokopedia, and GoTo Financial Jakarta (ANTARA) - Two Indonesian start-ups Gojek and Tokopedia declared the formation of the GoTo Group resulting from the merging of their services.
According to a statement received here, Monday, Gojek s Co-CEO, Andre Soelistyo, will assume the role of the Group s CEO, while Tokopedia s President, Patrick Cao, will serve as the Group s president. ....

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