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Go-Jek completes merger with e-commerce giant Tokopedia
Indonesia’s ride hailing company turned Superapp Go-Jek has finalised a merger with e-commerce giant Tokopedia to form the country’s largest tech company.
The new combined business is known as GoTo Group.
The deal was backed by major investors including Alibaba, BlackRock, Facebook and Google.
Go-jek’s Andre Soelistyo becomes GoTo Group CEO while Tokopedia’s Patrick Cao will hold the position of GoTo Group President.
Go-jek and Tokopedia plan to remain separate but collaborate on payments, logistics and food deliveries.
As well as its core ride hailing and food delivery businesses, Go-Jek also offers online payments, travel services, logistics and a loyalty program.
The two firms had been in discussions over a possible merger since late last year and may go public in the near future.
It creates a business estimated to be worth about $18 billion.
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