Ride-hailing giant Gojek and marketplace Tokopedia said on Monday they have combined their businesses to form GoTo Group, the largest technology group in Indonesia.
Gojek’s Andre Soelistyo will lead the combined business as GoTo Group CEO, with Tokopedia’s Patrick Cao serving as GoTo Group President. Kevin Aluwi will continue as CEO of Gojek and William Tanuwijaya will remain CEO of Tokopedia, the two firms said in a joint announcement.
The GoTo Group has:
- Total Group Gross Transaction Value (GTV) of over US$22 billion in 2020
- Over 1.8 billion transactions in 2020
- Total registered driver fleet of over two million as of December 2020
- Over 11 million merchant partners as of December 2020
- Over 100 million monthly active users (MAU)
- An ecosystem that encompasses 2% of Indonesia’s GDP
The deal, which has been in the works for several months, comes after Gokek spent several quarters exploring a merger with its chief Southeast Asian rival Grab.