The deal, which has been in the works for several months, comes after Gojek spent several quarters exploring a merger with Grab.
Ride-hailing giant Gojek and marketplace Tokopedia, Indonesia’s two biggest startups, said on Monday they have combined their businesses to form GoTo Group, the largest technology group in the Southeast Asian nation, the fourth most populous country that is currently navigating to contain the economic fallout from the coronavirus pandemic.
GoTo will be preparing for a dual listing — in New York and Jakarta — later this year, executives said. 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.
According to Manish Singh
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