Gojek and Tokopedia Agreed to Become One as GOTO

Online transportation company Gojek and e-commerce Tokopedia have announced the corporate action of the two companies to undergo a merger process into the GoTo Group. Through this merger, the GoTo group has a combined total Gross Transaction Value (GTV) of more than 22 billion US dollars, or Rp 310.2 trillion (exchange rate of Rp 14,100 per US dollar). In addition, the merger also combined transactions into 1.8 billion transactions in 2020. The merger also increased the number of business partners to reach more than 11 million business partners (merchants) as of December 2020, more than 100 million monthly active users (Monthly Active User / MAU), and contribute 2 percent of Indonesia's GDP.

GoTo President Patrick Cao said, with the merger of the two companies, the GoTo Group's business model became more diverse, stable and sustainable. It is targeted that in the future it will contribute more than 2 percent of Indonesia's GDP. "Going forward, the GoTo Group will contribute more than 2 percent to Indonesia's total GDP and will create more jobs and income opportunities as our business grows and the economy grows," Patrick said in a press release, Monday (17/5/2021). 

Through this merger, GoTo's business model will combine e-commerce services, goods delivery, food delivery, transportation and finance. The GoTo Group will also create the largest digital consumer platform in Indonesia, serving most household consumption needs. The network of business partners and driver partners in the GoTo Group will also complement each other by presenting the choice of goods and services needed, supported by digital and financial payment services that will make it easier for the community while increasing financial inclusion.

Patrick said, GoTo combines the Gojek platform transactions which have high volume and frequency, with the e-commerce platform Tokopedia which has medium frequency, but with high transaction value. The GoTo Group will tap into the huge potential for economic growth in Indonesia - the largest in Southeast Asia - which has a fast-growing middle class segment and a young population that is highly tech-responsive. "We are excited to start the next chapter of our business history and will continue to innovate to drive more inclusive growth in every sector our technology touches," he said. 

Gojek CEO and Co-founder Kevin Aluwi said the GoTo Group has a strong list of investors to support its future performance. Among others, 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. Tokopedia co-founder and CEO, William Tanuwijaya hopes that the establishment of the GoTo Group can create a large-scale social impact, including providing equal opportunities for local MSME activists to develop their businesses, and at the same time, giving users equal access to goods and services at all over the country.