Currently, the Gojek parent is still studying a number of regulations to be able to take the floor on the stock exchange. We are excited for the next chapter and look forward to our shared pursuit of innovation as a catalyst for inclusive growth.”, Tokopedia’s Co-founder and CEO William Tanuwijaya said, “The establishment of GoTo Group proves that you can believe in an ‘Indonesian dream’ and make it a reality. S&P Global Market Intelligence estimates that the group has a combined valuation of about US$20 billion. The GoTo Group combines e-commerce services, goods delivery, food delivery, transportation, and finance. Gojek has partnered with Singapore's biggest bank DBS.. Gojek was co-founded by Nadiem Makarim and Michaelangelo Moran. In 2019, according to a report by iPrice Group, Tokopedia was the most visited local e-commerce website on a desktop in Indonesia between July and September with a total of 65,953,400 average monthly visits, securing 25% of the total market share. Synergies. During their talks, the proposed valuation of GoTo was $18 billion. Gojek is dedicated to solving the daily challenges faced by consumers, while improving their quality of life. Open Links In New Tab. The ride-hailing and payments giant is reportedly in advanced discussions about merging with local e-commerce pioneer Tokopedia. Gojek’s Andre Soelistyo will lead the combined business as GoTo Group CEO, with Tokopedia’s Patrick Cao serving as GoTo Group President. Tokopedia and Gojek: So what's the deal, exactly? Enter Techmeme snapshot date and time: Cancel Executing a deal of this size and scale so seamlessly was only possible because we believe in the same goals: a relentless focus on consumers to give them the best experience, supported by the densest and fastest mobility network in the region, alongside the most comprehensive pool of merchants. Earlier last month, a potential merger talk between Gojek and Grab reportedly made significant progress.. By combining their resources, the two companies can utilise their significant clout in the region's biggest country to create a logistics and eCommerce business that other giant eCommerce companies, such as Amazon and . With over 100 million monthly active users, GoTo is Indonesia’s largest digital consumer platform offering e-commerce, on-demand and financial services. These cookies do not store any personal information. The target valuation in the public markets is between $35 billion and $40 billion, one of the people said. Necessary cookies are absolutely essential for the website to function properly. the companies said their combined past valuation was $18 billion based on fundraisings done in 2019 and early 2020, and . Temasek is a major investor in Gojek. Goldman Sachs is acting as the financial advisor to Gojek. Getting there would require a valuation double that of the combined organizations today: Gojek is worth about $10.5 billion; Tokopedia $7.5 billion. Without disclosing the value of the transaction, Gojek claimed the agreement marked the largest . Shoeb Kagda. Neither company has commented on the valuation of their merger yet. Found insideWorld Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. With this companion book, Richard Carlson partnered with Kristine, his wife of fourteen years, to create an easy, stress-free way to enhance personal relationships. In February, Bloomberg reported that ultimate goal is a potential IPO with an expected public-markets valuation of $35 billion to $40 billion. Found insideThis volume covers the latest insight from the International Business discipline on prevailing trends in business model evolution. It also discusses critical issues of regulation in the new information and digital space. About TokopediaTokopedia is an Indonesian technology company with the mission to democratize commerce through technology. The how and why of Vesemir, our in-house Python service that helps us with virtual machine deployment. This book explains why the idea of the Indo-Pacific is so strategically important and concludes with a strategy designed to help the West engage with Chinese power in the region in such a way as to avoid conflict. The two ventures, to be folded into a holding company known as "GoTo," have a combined valuation of about $18 billion, which would make it Indonesia's largest Internet company. GoTo will combine the e-commerce business of Tokopedia with the ride hailing, delivery and digital wallet services of Gojek. The merged entity would create an Indonesian powerhouse with a valuation of about $18 billion, with Gojek and Tokopedia pegged at around $10.5 billion and $7.5 billion respectively in the talks, according to the people involved. Gojek's valuation is about $10.5 billion. “It’s been GoTo since the beginning,” said Andre. Gojek and Tokopedia officially merged into GoTo two weeks ago (17/5). Gojek, Tokopedia to Merge . The GoTo Group will tap into the huge potential of Southeast Asia’s largest economy with its fast-growing middle class and young, tech-savvy population. Gojek co-CEO Andre Soelistyo will become CEO of the GoTo Group and GoTo Financial, while Tokopedia's president Patrick Cao will become the GoTo Group's president. The companies didn't comment on the final valuation today. For the consumer, GoTo Group will continue to reduce frictions and provide best in class delivery of goods and services. A newly formed company could reportedly be worth about $18 billion. Either way, Goldman Sachs, adviser to Gojek, and Citi, in Tokopedia's corner, will no doubt be eyeing that mandate. GoTo is included in the list of highly-rated technology companies in the world. Gojek currently has access to over 2 million registered drivers in its fleet of cars and motorbikes, while Tokopedia is one of Indonesia's leading eCommerce companies. This book captures this unique era, through the stories of eye-witnesses, when personal computing was just an idea -- an idea whose time had come! The GoTo Group has: Indonesia has a GDP of more than USD 1 trillion, and is the fourth most populous country in the world with a population of 270 million. Jakarta, Indonesia, May 17, 2021 - Gojek, Southeast Asia’s leading mobile on-demand services and payments platform, and Tokopedia, a technology company with the leading marketplace in Indonesia, today announced that they have combined their businesses to form GoTo Group, the largest technology group in Indonesia and the “go to” ecosystem for daily life. The companies did not disclose the expected value of the new firm, but said the combined past valuation of Gojek and Tokopedia was $18 billion based on historical fundraising. Four years later, Makarim developed a mobile app with the backing of early investor Northstar. Two Indonesian startup unicorns, Gojek and Tokopedia, have reportedly signed a conditional sales and purchase agreement (CSPA). Tokopedia and Gojek: So what's the deal, exactly? The combined entity, which will span online shopping, courier services, ride-hailing, food delivery, and other services , will be the biggest privately held technology company in Southeast Asia.SINGAPORE (May 17): Indonesian ride-hailing and payments firm Gojek and e-commerce leader Tokopedia are merging to create a multi-billion dollar tech company called GoTo in the country's largest-ever . In The 5 Second Rule, you'll discover it takes just five seconds to: Become confident Break the habit of procrastination and self-doubt Beat fear and uncertainty Stop worrying and feel happier Share your ideas with courage The 5 Second Rule ... The companies, which first worked together in 2015, handled 1.8 billion transactions last year with a gross value of $22 billion. Found insideThis book combines qualitative histories with quantitative data. With this jumbo valuation, the joint company of Gojek and Tokopedia plans to list its initial shares or IPO and target more Micro, Small and Medium Enterprises (MSMEs). Therefore, GoTo put together at least five plans. GoTo's valuation is estimated at US$ 40 billion or IDR 571 trillion. After the merger, the company targets a higher valuation. Gojek and Tokopedia began talking earlier this year and last month moved to seek approval from their respective investors. Operator of an online marketplace intended to help individuals and business owners to open and manage their own online stores. The creation of GoTo Group, with its broad and fast delivery services and its deep penetration, will mean same-day e-commerce delivery moves a step closer to becoming the norm in Indonesia. The companies didn't comment on the final valuation today. Listen to this article. This book examines what constitutes good governance in these companies, how control is gained, and how the closely held firm can to stimulate growth and extend innovation. Ride-hailing and payments giant Gojek agreed to combine with e-commerce pioneer PT Tokopedia to create the largest internet company in Indonesia, before seeking a stock-market debut at home and in . Found insideLearn the techniques and math you need to start making sense of your data About This Book Enhance your knowledge of coding with data science theory for practical insight into data science and analysis More than just a math class, learn how ... Hari-hari ini sedang ramai dibicarakan tentang rencana merger antara Gojek dan Tokopedia menjadi Go To. Developed using extensive research on student learning behavior, this book presents concepts in a unique format that speaks to how students learn. Gojek app was launched in January 2015, and in less than two years, the app racked up nearly 30 million downloads. Gojek and Tokopedia — two of Indonesia's biggest startups — have agreed to merge to create the largest tech group in the country and one of the biggest ride-hailing and e-commerce companies in . Tokopedia is an Indonesian technology company specializing in e-commerce. Gojek and Tokepedia have been in merger discussions since December after negotiations with rival Grab collapsed, according to media reports. During their talks, the proposed valuation of GoTo was $18 billion. It’s funny. In 2019, according to a report by iPrice Group, Tokopedia was the most visited local e-commerce website on a desktop in Indonesia between July and September with a total of 65,953,400 average monthly visits, securing 25% of the total market share. Found inside – Page 162The meteoric rise of GoJek and a host of other multi-sided platforms (MSPs) from the country such as Tokopedia, Bukalapak, Traveloka, and Ovo, ... To put the values of the companies in context, Gojek is currently valued at about US$10.5 billion, while Tokopedia is valued at around US$7.5 billion. It was founded in 2009 by William Tanuwijaya and Leontinus Alpha Edison . © 2021 Forbes Media LLC. GoTo plans to complete an IPO in 2021, which will be listed in Jakarta and the United States, with an expected valuation between $35 and $40 billion. The name Gojek comes from the term "Ojek" or motorbike taxis commonly found throughout Indonesia. U.S. investors may want to track . Gojek is the first Indonesian unicorn company, as well as the country's first "decacorn" company. Gojek and Tokopedia were both founded over a decade ago to build a digital platform to tap into the then nascent e-commerce industry across Indonesia and Southeast Asia. GoTo will also further develop its payments and financial services offerings to provide an enhanced financial experience to consumers, drivers and merchants while also expanding to reach more underserved segments in Indonesia, where 140 million people have little or no access to the country’s financial system. Based in Singapore, I am a contributing editor for Forbes Asia, covering entrepreneurs, wealth and deals across Southeast Asia. The merger of Gojek and Tokopedia . Meanwhile, Tokopedia has 10 million merchant partners and 100 million active users. The new entity has a combined past valuation of US$18 billion. GoTo plans to complete an IPO in 2021, which will be listed in Jakarta and . That is up from a valuation of $7bn in 2018 and brings it closer in value to ride-hailing group Gojek, which is valued at about £10bn. During their talks, the proposed valuation of GoTo was $18 billion. Michael Yao, Tokopedia board member and Senior Vice President, Alibaba Group, said: "Tokopedia, under the strong leadership of William and his team, has driven rapid and solid growth in the past four years since our investment. The Gojek sign is seen on the company's building in Jakarta, Indonesia. The tie-up between Gojek — valued at $10.5 billion valuation — and Tokopedia — valued at $7.5 billion — would create a combined company worth $18 billion, the sources said. FinTech has developed rapidly in recent years, and with these developments new challenges arise, particularly for regulators: how do you apply current law to these ever-changing concepts in a world of continual technological advancement? On the other hand, Grab's last known valuation was around US$14 billion, hence a combined Gojek-Tokopedia entity would potentially have a higher valuation than Grab. GoTo Group will also continue to focus on the fast-growing and emerging markets where Gojek already operates3. Found inside – Page 66... to describe privately held companies with a valuation of $1 billion or more. ... Tokopedia, and Traveloka, several Singaporean startups, Vietnam's VNG, ... Tokopedia is one of four major players that has emerged in e-commerce and online services in Indonesia: Tokopedia and Sea Limited (Shopee) focusing on e-commerce, and Gojek and Grab in ride-hailing . The companies will continue to thrive and coexist as stand-alone brands within the strengthened ecosystem. Fresh out of the studio, in episode 340, Rama Mamuaya from DailySocial in Indonesia joined us to discuss a potential merger between Gojek, Indonesia's largest ride-hailing app and Tokopedia, the largest ecommerce site in Indonesia, and what it would mean for the most important market in Southeast Asia as well as their key rivals: Grab and SEA Group with Shopee. Gojek a ride-hailing, food delivery company and Tokopedia e-commerce leader in Indonesia are in between a discussion to seal an 18 billion dollar merger. Gojek and Tokopedia, Indonesia's two biggest start-ups, have agreed to a merger that will create an $18bn food delivery, ride-hailing and ecommerce group with reach across south-east Asia. Valuasi berasal dari kata valuation yang artinya adalah proses untuk menentukan nilai sebuah perusahaan. Provides a comprehensive atlas of the world, including population demographics, physical features, climate, and political borders. . Gojek, a CNBC Disruptor 50 company, and e-commerce player Tokopedia recently announced a merger to create the GoTo Group. This Decacorn made various programs as part of commitments such as the electric vehicle development program, making GoTransit to creating a carbon emission calculation feature, namely GoGreener Carbon Offset. Citi is acting as the financial advisor to Tokopedia. The company is expected to seek a valuation in the $35 billion to $40 billion range. In the past two years, under the attack of Shopee, the . Gojek and Tokopedia last month moved to seek approval from their respective investors. Gojek and Tokopedia's senior executives have personal and family ties and held discussions about a deal in 2018, sources said. Sources familiar with the situation had earlier said the companies were seeking a $18 billion merger. Earlier last month, a potential merger talk between Gojek and Grab reportedly made significant progress.. GoTo is vying to reach a similar valuation. Fifth, build a sustainable business through various initiatives and commitments. A strong believer in the SE Asia growth story, former Sea Group president Nick Nash is the co-founder of Singapore-headquartered tech-focused private equity firm Asia Partners, which closed its debut vehicle at $384 million earlier this year.The Harvard graduate spent more than a decade at General Atlantic as principal and head of Southeast Asia between 2002 and 2014 before moving to Sea Group . We are now in the unique position to meet all of a consumer’s daily needs.”. So perhaps it will take the Spac route, too. Throughout the book, they debunk numerous myths about startups and reveal some surprising truths. Total Group Gross Transaction Value (GTV) of over US$22 billion in 2020, Total registered driver fleet of over two million as of December 2020, Over 11 million merchant partners as of December 2020, Over 100 million monthly active users (MAU), An ecosystem that encompasses 2% of Indonesia’s GDP. Statista estimates that GoTo’s current valuation is US$ 17 billion or IDR 242 trillion. Found inside – Page 54Selain Go-Jek, tiga yang lainnya adalah Bukalapak, Tokopedia, dan Traveloka. Mereka sama-sama berangkat dari startup kecil. Go-Jek bahkan akhir 2018 atau ... “The establishment of GoTo Group proves that you can believe in an ‘Indonesian dream’ and make it a reality,” Tokopedia cofounder and CEO William Tanuwijaya said in a statement. The Digital Economy Report 2019 on "Value creation and capture: Implications for developing countries" takes stock of recent trends in the global digital landscape and discusses the development and policy implications of data and digital ... Based in Singapore, I am a contributing editor for Forbes Asia, covering entrepreneurs, wealth and deals across Southeast Asia. This is the next step of an exciting journey and I am humbled and proud to lead the GoTo movement.”, Patrick Cao, President of GoTo Group said, “Our business model is now even more diverse, stable and sustainable. To learn more about our cookie policy or withdraw from it, please check our, Ekosis Encourages Marketing of MSME Products in North Lombok, Agricultural Startup TaniHub Reviews Company Acquisition and IPO, Halodoc and Good Doctor Prepare to Face ‘New Normal’ after Pandemic, Sirclo, an E-commerce Enabler Merged with Icube, Ruangguru Launches Facility to Simplify Students and Teachers Interaction, 5 Startups from the 1000 Startup Digital Movement, Zenius Gives Support Facilities in Areas of Distance Learning, 8 Tips to Build a Startup Business for Beginners, 7 Considerations before Choosing a Startup Office, 7 Tips for a Successful Startup You can Try, 7 Startup Incubators to Help You Accelerate Your Business, 6 Startup Sectors Targeted by Investors in New Normal. We have Gojek’s high volume, high frequency mobility transactions, combined with Tokopedia’s high value, medium frequency e-commerce transactions. Their ambitions are big: with an estimated valuation of Rp 570 trillion, they hope to contribute to advancing the domestic economy through their various . In subsequent rounds, Tokopedia attracted investment from Softbank, Sequoia, Alibaba, Google, and Temasek on its way to a $7.5 billion valuation. Photo courtesy of Gojek. Last week, Gojek announced its merger with e-commerce player Tokopedia to form the GoTo Group. GoTo could be worth at least $18 billion based on historical valuations derived from funding rounds of the two entities in the past two years, the companies said in a statement. These cookies will be stored in your browser only with your consent. Found insideThe Journal of Global Business and Management Research (GBMR) strives to comply with highest research standards and scientific/research/practice journals' qualities. Two sources close to Go-Jek told TechCrunch that the ride-hailing firm's current valuation is just shy of the $10 billion mark — I reported it as $9.5 billion in January at the first close of . With talks of a Gojek-Tokopedia merger firming up, industry sentiment is unanimous to the belief that the tie-up would be beneficial for both firms, considering that natural synergies can help strengthen the two parties.. For example, Tokopedia's e-commerce business could work with Gojek's last-mile delivery fleet. Groundbreaking and timely, Naturally Selected unravels the mystery of leadership—why some lead, why some follow, and why it matters to every one of us. The combined business of two of Indonesia's top unicorns — start-ups with a valuation of more than $1 billion — will be led by Gojek's Andre Soelistyo as GoTo . Found insideThis paper updates the database on systemic banking crises presented in Laeven and Valencia (2008, 2013). Bloomberg: Sources: Indonesia's GoTo, created by the Gojek and PT Tokopedia merger, is in talks to raise $1B-$2B at a $25B-$30B valuation, as it plans an IPO. Merger adalah salah satu strategi scale up sebagai langkah keenam dalam corporate life cycle. Neither company has commented on the valuation of their merger yet. At that time, the company included the Tokek in the roster of combined entities to be surveyed. Tokopedia's valuation is $7.5 billion. 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.. This open access book explores the concept of Industry 4.0, which presents a considerable challenge for the production and service sectors. Gojek's valuation is about $10.5 billion. Third, add various services. Representatives of Gojek and Tokopedia declined to comment. Found insideWith the application of the right policies, Indonesia could return to growth above 6%, and perhaps eventually reach the 7% target set by the new president. Opinions expressed by Forbes Contributors are their own. Monica Wong, Managing DirectorGinny Wilmerding, PartnerBen Richardson, Partner. According to CB Insights, currently Gojek's valuation is US $ 10 billion and Tokopedia's valuation is US $ 7 billion. Davis Polk & Wardwell LLP and Assegaf Hamzah & Partners are serving as Gojek’s legal advisors. The new company will have a valuation of US$18 billion, or around Rp262 trillion.

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