Two of Indonesia’s brightest tech stars are merging to form GoTo Group in a deal reported to be worth US$18 billion. Gojek is the archipalego’s top ride-hailing and payments firm while Tokopedia is the nation’s e-commerce leader.
Together, they are creating a technology powerhouse that is backed by leading global investors such as Alibaba Group, GIC, Google, SoftBank, Tencent, and Warburg Pincus.
By adopting the Indonesian spirit of gotong royo (working together), they are combining their prowess to become a mega single platform to serve the needs of those in Indonesia.
Gojek’s Andre Soelistyo will be the new company’s CEO while Tokopedia’s Patrick Cao will be appointed as President.
Talk of a potential merger emerged earlier this year and once completed, GoTo Group is said to be seeking a listing in the United States and Indonesia.
Entelechy Asia 