![]() The friendship of Gojek and Tokopedia founders may have helped close this deal. The two companies first began working together in 2015 to accelerate e-commerce deliveries using Gojek’s local network of drivers. The companies, which have together raised about $8.2 billion over the years (according to research firm Tracxn), didn’t comment on the final valuation Monday nor did they disclose any other financial terms of the deal. During their talks, the proposed valuation of GoTo was $18 billion. Gojek and Tokopedia began talking earlier this year and last month moved to seek approval from their respective investors. Tokopedia, meanwhile, was in talks late last year to pursue a public listing this year. The deal, which has been in the works for several months, comes after Gojek spent several quarters exploring a merger with Grab. An ecosystem that encompasses 2% of Indonesia’s GDP.Over 100 million monthly active users (MAU).Over 11 million merchant partners as of December 2020.Total registered driver fleet of over two million as of December 2020. ![]() Total Group Gross Transaction Value (GTV) of over $22 billion in 2020.GoTo executives claimed that the combined entity features: The combined entity is “a globally unique and highly complementary ecosystem,” the two firms said as they look to better compete with heavily funded super app Grab and e-commerce platform Shopee. Kevin Aluwi will continue as CEO of Gojek and William Tanuwijaya will remain CEO of Tokopedia, the two firms said in a joint announcement. GoTo will be preparing for a dual listing - in New York and Jakarta - later this year, executives said. Gojek’s Andre Soelistyo will lead the combined business as GoTo Group CEO, with Tokopedia’s Patrick Cao serving as GoTo Group President. Ride-hailing giant Gojek and marketplace Tokopedia, Indonesia’s two biggest startups, said on Monday they have combined their businesses to form GoTo Group, the largest technology group in the Southeast Asian nation, the fourth most populous country that is currently navigating to contain the economic fallout from the coronavirus pandemic.
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