Just days after Telkomsel injected $300m into Gojek, the company has finalised its merger with Tokopedia to form a new business called GoTo that will go public this year.
Indonesia-based ride hailing service Gojek and e-commerce marketplace Tokopedia merged today to form a diversified group called GoTo.
Previous reports put the combined business’ valuation at $18bn, but GoTo did not confirm this figure. It will seek a dual listing in New York and Jakarta later this year, according to TechCrunch.
Financial terms were not disclosed, but e-commerce groups Alibaba and JD.com, conglomerate Astra International, technology group Alphabet’s Google subsidiary, telecoms firm SoftBank’s Vision Fund 1, payment services providers PayPal…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
