The British “Financial Times” reported on the 17th that Indonesia’s two major Internet giants, Gojek and Tokopedia, announced the merger, which will set the record for the largest merger and acquisition in Indonesia’s history, and will form an ultra-large-scale Internet consumption and e-commerce group with business covering Southeast Asian countries. , Is expected to be valued at more than $18 billion.
According to the Financial Times, Gojek, a private ride-hailing and payment platform company, and Tokope-dia, an e-commerce company, are the leading Internet commerce companies in Indonesia. The two have formally negotiated the merger since the beginning of this year and achieved a substantial breakthrough in April. The common major shareholders of the two companies include Google, Singapore Temasek and others. Gojek’s investors also include Facebook, Warburg Pincus, Astra International, Tencent Holdings, etc., while Tokopedia’s investors include SoftBank and Alibaba. The newly formed enterprise group will be renamed GoTo, bringing together the main businesses of the two companies, including catering and distribution, transportation and e-commerce. The two companies did not clearly disclose the value of the combined group, but based on the historical financing of the two companies, the combined valuation is as high as 18 billion US dollars. After the merger, the newly established GoTo Group will prepare to go public in Indonesia this year, and may go public in the United States in the future. The two companies said that the conglomerate’s goal is to reach an open market valuation of $40 billion. In 2020, the total transaction volume of the two companies will reach 22 billion U.S. dollars, with more than 100 million active users.
According to the Nikkei, the merger of Gojek and To-kopedia is the largest merger in Indonesia’s history and the largest merger of an Internet and media service company in Asia to date. After the merger is completed, it will build Southeast Asia’s first Internet eco-enterprise integrating e-commerce, mobile consumer services and financial services. The newly formed GoTo will continue to expand its business to other Southeast Asian countries based on Indonesia’s huge population and growing consumer power, and even occupy a monopoly position in the Internet consumer market of major ASEAN economies. The company’s executives also made no secret of their ambitions, hoping to build this group into Asia’s top Internet giant. Some analysts said that although it cannot be compared with Chinese Internet giants, GoTo still expects to compete with giants such as Alibaba in the regional and even international markets. When Internet giants such as China and India enter ASEAN, they will also encounter strong challenges from the company.