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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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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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