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Indonesia's Gojek, Tokopedia to merge as GoTo Group | iNFOnews | Thompson-Okanagan's News Source


Zen Soo
A Gojek driver, left, gives a helmet to a customer in Jakarta, Indonesia, Monday, May 17, 2021. 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. (AP Photo/Achmad Ibrahim)
May 17, 2021 - 7:06 AM
SINGAPORE (AP) — Indonesian ride hailing company Gojek and the country s biggest e-commerce firm Tokopedia said Monday that they are merging to form the GoTo Group, adding to surging competition in Southeast Asia that is attracting billions of dollars from investors.
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 - Netscape Money & Business


Indonesia s Gojek, Tokopedia to create biggest local tech group
By Anshuman Daga and Fanny Potkin
Reuters
SINGAPORE (Reuters) -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 merge in joint company, create $18-billion tech giant


 
Gojek co-CEO Andre Soelistyo (left) will lead GoTo, William Tanuwijaya remains Tokopedia CEO Indonesian ride-hailing and e-commerce giant Gojek and online marketplace Tokopedia, which have been working on a merger for a while, have finally created their previously announced joint new company and are officially merging. Indonesia’s two biggest startups said in a statement on May 17 that they have combined their businesses to form GoTo Group, the largest technology company in the world s fourth most populous country. GoTo will be preparing for a dual listing – in New York and Jakarta – later this year, executives said. Gojek’s co-CEO.
Gojek co-CEO Andre Soelistyo (left) will lead GoTo, William Tanuwijaya remains ....

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


Indonesia’s Gojek, Tokopedia merge to create biggest local tech group
17 May 2021 / 23:49 H.
A Gojek rider delivering a Tokopedia package to a customer in Jakarta. – AFPPIX/GoTo Group
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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