Reuters

Indonesia's Gojek, Tokopedia merge in country's biggest deal

Reuters logo Reuters 17/05/2021 07:41:08
FILE PHOTO: Gojek driver helmets are seen during Go-Food festival in Jakarta © Reuters/Beawiharta BeawihartaFILE PHOTO: Gojek driver helmets are seen during Go-Food festival in Jakarta

SINGAPORE (Reuters) - Indonesian ride-hailing and payments firm Gojek and e-commerce leader Tokopedia announced a merger on Monday in a transaction that would create a technology powerhouse in the country's largest deal.

Sources familiar with the situation had earlier said the companies were seeking a $18 billion merger. Neither firm confirmed a valuation for the merged group, named GoTo.

The deal comes as Gojek and Tokopedia seek to boost profitability some 10 years after they were founded by offering a bouquet of services under a single platform, extending a regional trend.

Alibaba Group Holding and SoftBank Group Corp are among Tokopedia's investors, while Gojek's include Warburg Pincus and Tencent Holdings.

Last month, Southeast Asia's biggest ride-hailing and food delivery firm, Grab, clinched a $40 billion merger with a special purpose acquisition company. Meanwhile Singapore-based regional internet firm Sea Ltd, which operates e-commerce platform Shopee, is also muscling into food delivery and financial services.

FILE PHOTO: Founder and CEO of Indonesian e-commerce firm Tokopedia, William Tanuwijaya, pictured at Tokopedia headquarters in Jakarta © Reuters/Willy KurniawanFILE PHOTO: Founder and CEO of Indonesian e-commerce firm Tokopedia, William Tanuwijaya, pictured at Tokopedia headquarters in Jakarta

(Reporting by Anshuman Daga: Editing by Neil Fullick and Kenneth Maxwell)

lundi 17 mai 2021 10:41:08 Categories: Reuters

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