A PYMNTS Company

Indonesia’s “Largest Ever” Merger Is In The Works

By  |  May 17, 2021
Merger

Two of Indonesia’s largest tech startups, Gojek and Tokopedia, announced on Monday, May 17, they will merge and look to go public this year, a move that will create one of Southeast Asia’s biggest tech conglomerates and cover everything from ride hailing and digital payments to e-commerce.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The combined entity, which will span online shopping, courier services, ride-hailing, food delivery, and other services in Southeast Asia’s largest economy, will be the biggest privately held technology firm in the region.

    It plans to list in Indonesia and the United States later this year, company executives said on Monday.

    Two sources familiar with the matter told Reuters that GoTo was seeking a pre-IPO funding that could enable it to raise about US$2 billion followed by public market floats with a potential valuation of roughly US$40 billion for the group.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.