Perhaps the biggest story in Indonesia in 2021 was the merger of two digital giants – Gojek and Tokopedia decided to get together and form a new entity that will offer consumers e-commerce, ride-hailing, food delivery and financial services amongst other services.
GoTo, as the new merged entity will be called will have a combined valuation of about US$20 billion, making it amongst the largest listed companies in the country if it does list on the Indonesian Stock Exchange. With their combined strength and resources, GoTo will be a major player not just in Indonesia but regionally and perhaps globally.
The impact of the merger of these two digital giants goes far beyond their respective balance sheets. The new company’s operation and reach will open new opportunities in a host of sectors such as financial services. Consumer finance, merchant lending, transportation and last mile delivery systems.
