Indonesia's Gojek, Tokopedia announce merger to form GoTo Group

Economy

Indonesian ride-hailing and digital payments company Gojek and e-commerce provider Tokopedia announced their merger on Monday, a move they said marks the largest business integration in the country. The combined company, GoTo Group, will have Gojek co-CEO Andre Soelistyo as its CEO, with Tokopedia President Patrick Cao serving as its president. Gojek and Tokopedia together had a total valuation of $18 billion. GoTo will provide ride-hailing, food and goods delivery, and financial services, among other things, drawing on over 2 million registered drivers, over 11 million merchant partners and o...

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