Big Asia merger creates $18 billion ride-hailing and e-commerce group
CNN
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 southeast Asia.
The new entity will be called GoTo Group, the two companies said in statement Monday, and is backed by tech heavyweights including Alibaba (BABA), Tencent (TCEHY), Facebook (FB), Google (GOOGL) and SoftBank (SFTBF). Based on fundraising carried out in 2019 and 2020, the combined value of the two companies is at least $18 billion, making this union the largest ever between two Asian Internet companies, the statement added.
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