Ride-haling giant Gojek and marketplace Tokopedia said on Monday that they had merged their businesses to form Indonesia’s largest technology group, GoTo Group.
Andre Soeristyo of Gojek will lead the integrated business as CEO of GoTo Group, and Patrick Cao of Tokopedia will be President of GoTo Group. In a joint announcement, the two companies announced that Kevin Aluwi will continue to be CEO of Gojek and William Tanuwijaya will continue to be CEO of Tokopedia.
The integrated entity is worth about $ 18 billion and is a “globally unique and complementary ecosystem,” the two companies said, and GoTo features:
- Total Group Transactions (GTV) in 2020 exceeds US $ 22 billion
- Over 1.8 billion transactions in 2020
- Total of over 2 million registered driver fleets as of December 2020
- Over 11 million merchant partners as of December 2020
- Over 100 million monthly active users (MAU)
- Ecosystems that account for 2% of Indonesia’s GDP
The deal, which has been working for months, came after Gojek spent a few quarters seeking a merger with Southeast Asia’s main rival, Grab.
“Today is a truly historic day. It is the beginning of GoTo and the next stage of Gojek, Tokopedia and GoToFinancial growth. Gojek drivers offer more Tokopedia packages and merchant partners of all sizes are strengthened. Benefiting from business solutions, we use combined scales to increase financial inclusion in emerging regions with untapped growth potential. For consumers, GoTo Group continues to rub. We will reduce and provide best-in-class products and services. This is the next step in an exciting journey and we are humbly proud to be able to lead the GoTo movement, “GoTo Group CEO Andre Soeristyo said in a statement. Stated.
William Tanuwijaya, co-founder and CEO of Tokopedia, said: “The establishment of GoTo Group proves that we can believe in” Indonesian dream “and realize it. Our goal has always been to create a company that creates large-scale social impacts, leveles the competition for SMEs, and provides consumers with equal access to goods and services across the country. In addition to accelerating the growth of Indonesia’s digital economy, GoTo Group makes it easy for people of all disciplines to access high quality products and services anytime, anywhere. There’s still a long way to go to reach our goals, but today we’re starting that journey together. “
This is a developing story. read more…
Gojek and Tokopedia merge to form GoTo Group – TechCrunch Source link Gojek and Tokopedia merge to form GoTo Group – TechCrunch