News on Gojek, Tokopedia Merger Circulates

15 April 2021 23:05 WIB

Gojek and Tokopedia illustration. Tokopedia

TEMPO.CO, JakartaRumors about the final stage of the merger of tech company Gojek and Tokopedia were rife recently. The online ride-hailing giant and e-commerce platform were said to establish a joint entity named GoTo.

Quoted from Singapore-based technology business media site KrASIA, an unnamed informant claimed that discussions about the merger continued and expected to come to an agreement in April 2021.

The merger was expected to form a company worth USD 18 billion or around IDR 262.9 trillion with an assumed exchange rate of IDR 14,606 per dollar. The firm will be filled by senior leaders of the two including Gojek co-CEOs Andre Soelistyo and Kevin Aluwi, as well as Tokopedia CEO William Tanuwijaya and Tokopedia President Patrick Cao.

GoTo was said to provide services in the form of travel, e-commerce, food delivery, electronic payment, and logistics. In another report, Gojek will own 60 percent of shares, while Tokopedia will have the rest 40 percent.

The merger rumor has been circulating since early 2021, shortly after the merger talks of Gojek and Grab failed due to the monopoly issue. Meanwhile, the merger of Gojek and Tokopedia was considered to be complementary.

Tokopedia, for example, will get access to Gojek's logistical resources for more efficient delivery services, and its merchants may have the opportunity to seek financing from Bank Jago, a digital bank supported by Gojek.

During this holy month of Ramadan, the two companies have published ads showing their symbols together. One of them is an ad about Tokopedia packages being sent by Gojek fleets. To date, however, they remained tight-lipped about their joint firm GoTo.

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