KONTAN.CO.ID - SINGAPORE. Indonesian ride-hailing and payments firm Gojek and e-commerce leader Tokopedia announced a multi-billion dollar merger of their businesses on Monday, creating a technology powerhouse called GoTo Group in the country's largest-ever deal. The deal comes as Gojek and Tokopedia - each backed by global heavyweight investors - seek to boost profitability some 10 years after they were founded by marrying their services in one bouquet under a single platform. It also extends growing consolidation among Southeast Asia's fast-moving tech startups. Alibaba Group Holding, SoftBank Group Corp and Singapore sovereign wealth fund GIC are among Tokopedia's investors, while Gojek's include Google, Warburg Pincus and Tencent Holdings.
Indonesia's Gojek, Tokopedia merge to create tech champion
KONTAN.CO.ID - SINGAPORE. Indonesian ride-hailing and payments firm Gojek and e-commerce leader Tokopedia announced a multi-billion dollar merger of their businesses on Monday, creating a technology powerhouse called GoTo Group in the country's largest-ever deal. The deal comes as Gojek and Tokopedia - each backed by global heavyweight investors - seek to boost profitability some 10 years after they were founded by marrying their services in one bouquet under a single platform. It also extends growing consolidation among Southeast Asia's fast-moving tech startups. Alibaba Group Holding, SoftBank Group Corp and Singapore sovereign wealth fund GIC are among Tokopedia's investors, while Gojek's include Google, Warburg Pincus and Tencent Holdings.