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THE result of the merger of two Indonesian technology giants, PT Aplikasi Karya Anak Bangsa (Gojek) and PT Tokopedia, is officially predicted to form a new super app entity called GoTo with a valuation of up to US$40 billion or equivalent to IDR572.9 trillion.
Reporting from CBInsight, Monday (17/5), through this merger, Gojek’s shareholders will own 58% while Tokopedia’s shareholders will own the remaining 42% with a potential valuation of up to US$40 billion if its debut on the public market is successful.
Meanwhile, based on Statista data, the combined assessment of Gojek and Tokopedia will make GoTo the 12th highest rated startup in the world with a valuation of US$17 billion. The merger will open the door for Indonesia to be among the top 20 unicorners in the world, consisting mostly of Chinese and US companies.
Just for the record, the GoTo Group has a list of blue-chip investors such as Alibaba Group, Astra International, BlackRock, Capital Group, DST, Facebook, Google, JD.com, KKR, Northstar, Pacific Century Group, PayPal, Provident, Sequoia Capital, SoftBank Vision Fund 1, Telkomsel, Temasek, Tencent, Visa and Warburg Pincus.
Responding to this, President Director of Telkomsel Setyanto Hantoro said that the company as one of Gojek’s strategic investors agreed and supported the merger between Gojek and Tokopedia.
He also believes that the merger of these two entities will make GoTo the largest digital entity in the country and become the pride of Indonesia. Telkomsel also believes that this will strengthen the digital ecosystem and make the synergy that has been going well with Gojek to become stronger and wider. [sources/photo special]
