“The establishment of GoTo Group proves that you can believe in an ‘Indonesian dream’”
Gojek, Southeast Asia’s leading mobile on-demand services and payments platform, and Tokopedia, a technology company with the leading marketplace in Indonesia, have 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 agreement marks the largest ever business combination in Indonesia and the largest between two Asia-based internet media and services companies to date.
GoTo brings together the strengths of two Indonesian champions and creates a globally unique and highly complementary ecosystem that combines e-commerce, on-demand and financial services. GoTo Group is Indonesia’s largest digital consumer platform, capturing a majority of consumer household expenditure. The Group’s comprehensive merchant and partner network will offer an unparalleled selection of goods and services and its leading payments and financial services business will provide convenience and significantly increase financial inclusion.
The GoTo Group has:
● Total Group Gross Transaction Value (GTV) of over US$22 billion in 2020
● Over 1.8 billion transactions 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
Gojek and Tokopedia were both founded over a decade ago and have unlocked the benefits of the digital economy for millions of people across Indonesia and Southeast Asia – including consumers, service providers and merchants of all sizes. The two companies first worked together in 2015 to accelerate e-commerce deliveries using Gojek’s local network of drivers. The companies will continue to thrive and coexist as stand-alone brands within the strengthened ecosystem.
Gojek’s Andre Soelistyo will lead the combined business as GoTo Group CEO, with Tokopedia’s Patrick Cao serving as GoTo Group President. Kevin Aluwi will continue as CEO of Gojek and William Tanuwijaya will remain CEO of Tokopedia. In addition to his Group responsibility, Andre 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.
Andre Soelistyo, CEO of GoTo Group said, “Today is a truly historic day as we mark the beginning of GoTo and the next phase of growth for Gojek, Tokopedia and GoTo Financial. Gojek drivers will deliver even more Tokopedia packages, merchant partners of all sizes will benefit from strengthened business solutions and we will use our combined scale to increase financial inclusion in an emerging region with untapped growth potential. For the consumer, GoTo Group will continue to reduce frictions and provide best in class delivery of goods and services. 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. We have Gojek’s high volume, high frequency mobility transactions, combined with Tokopedia’s high value, medium frequency e-commerce transactions. GoTo Group will account for more than 2% of GDP in Indonesia and we’re going to create a lot more employment and income earning opportunities as our company and the economy expand. 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. Our goal has always been to build a company that creates social impact at scale, levelling the playing field for small businesses and giving consumers equal access to goods and services across the country. In addition to accelerating the growth of Indonesia’s digital economy, GoTo Group will make it easier for people 3 Vietnam, Singapore, Thailand. from all walks of life to access quality products and services, anytime and anywhere. We still have a long way to go to achieve our goals, but today is about starting that journey together.”
Kevin Aluwi, CEO and Co-founder of Gojek said, “This is a coming together of two like-minded companies and there is such a great cultural fit between our management teams. 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. We are now in the unique position to meet all of a consumer’s daily needs.”