The combined company, created via the biggest merger in Indonesian history, will be the country’s largest tech business, with gross transaction value in 2020 of more than $22 billion. GoTo has more than 2 million registered drivers, more than 11 million merchant partners, and more than 100 million daily active users. According to the company, GoTo will account for about 2% of Indonesia’s gross domestic product. In an interview with Barron’s, GoTo President Patrick Cao, who has been president of Tokopedia, said the companies will be “better together, creating a unique ecosystem to better serve buyers, merchants and drivers.” He noted that the two companies, logistics partners for years, share principles and values, and argued that the deal will create an unmatched combination of e-commerce, logistics, fulfillment, and financial services. Gojek operates in Indonesia, Singapore, Thailand, and Vietnam, while Tokopedia is focused specifically on Indonesia. Cao says there are no immediate plans to expand Tokopedia’s reach into new markets, given the relatively modest penetration of e-commerce In Indonesia. He estimates the total at just 5% to 10%. Cao said Tokopedia serves 97% of the Indonesian population—no small feat in a country that consists of more than 17,000 islands, 6,000 of them inhabited. He said that two-thirds of Tokopedia orders are delivered by the next day and that the company is working to convert most of those to same-day delivery.

https://www.barrons.com/articles/gojek-tokopedia-to-merge-creating-indonesian-tech-giant-an-ipo-will-follow-51621349082