Gojek, Tokopedia to merge in Indonesia’s biggest ever deal at US$18 billion
- Gojek’s Andre Soelistyo will lead combined business as CEO, with Tokopedia’s Patrick Cao serving as group president
- Gojek shahreholders to hold 58 per cent of combined entity called GoTo; Alibaba and SoftBank to be major shareholders of GoTo
Tokopedia and Gojek, two of Indonesia’s biggest technology companies, said on Monday that they planned to merge to create a digital leviathan spanning e-commerce, ride-hailing and financial services based in the world‘s fourth most populous country.
Gojek’s Andre Soelistyo will lead the combined business as GoTo’s CEO, with Tokopedia’s Patrick Cao named GoTo’s president.
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Kevin Aluwi will continue as CEO of Gojek and William Tanuwijaya will remain CEO of Tokopedia. In addition to his group responsibility, Soelistyo will continue to lead payments and financial services, under the new brand of GoTo Financial, which encompasses GoPay as well as the group’s merchant and financial services offerings.