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listing via a special purpose acquisition company (SPAC) merger with Altimeter Growth Corp (NASDAQ: AGC). Both companies together have over 100 million monthly active users. The combined transactions from both companies were over 1.8 billion in 2020, with the total gross transaction value over $22 billion.GoTo Group will combine e-commerce, on-demand, and financial services from Gojek and Tokopedia.Alibaba Group Holding Ltd (NYSE: BABA), Tencent Holdings Ltd (OTC: TCEHY), Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google, Sequoia Capital India, and Singapore state investor Temasek will support the group.William Tanuwijaya will continue to lead Tokopedia. Pembentukan Grup GoTo itu secara resmi diumumkan pada hari ini, Senin (). Indonesia’s two most valuable startups, ride-hailing giant Gojek and ecommerce provider Tokopedia, are finalizing terms for. TRIBUNNEWS.COM - GoJek dan Tokopedia secara resmi telah merger menjadi satu dan membentuk GoTo. Soelistyo will also lead the payments and financial services unit, which will be rebranded as GoTo Financial. Sources: Gojek, Tokopedia look to finalize merger deal this month. Gojek’s Andre Soelistyo and Tokopedia’s Patrick Cao will serve as the group CEO and Group President.The companies aim for an initial public offering valuation between $35 billion - $40 billion. The two companies together were valued at about 18 billion during their merger talks, with Gojek shareholders set to receive 58 of the new entity’s ownership and Tokopedia holders the rest.
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Gojek and Tokopedia were set to own 58% and 42% of the consolidated entity, respectively. The consolidated valuation was around $18 billion during the merger talks.The companies target to become an Indonesian powerhouse, including businesses from car-sharing and fintech to online shopping and delivery, Bloomberg reports.Indonesia ride-hailing and payments firm, Gojek announced its merger with e-commerce player Tokopedia, to form the GoTo Group, to take on rivals like Singapore’s Grab and internet company Sea Ltd (NYSE: SE), which operates an e-commerce platform Shopee and has a digital payments and financial services business, CNBC reports.