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Indonesia’s Tokopedia and Gojek Finalising Merger

Tokopedia tower located in Kuningan Central Business District. Shutterstock.

The e-commerce and ride-hailing giants are looking to reach an agreement as early as this month, people familiar with the matter told Bloomberg.

“Gojek has become the service provider of anything and everything that you need in your life, except e-commerce,” Svida Alisjahbana, a Jakarta-based media mogul, said last year. This merger would change that by combining Indonesia’s most valuable start-ups into a single entity spanning online shopping, delivery, ride hailing and mobile wallets, which the parties plan to list in the US and Indonesia, the sources said, at a target valuation between $35 billion and $40 billion.

Founded in 2010, Gojek now has over 170 million users across five countries in Southeast Asia: Indonesia, Vietnam, Singapore, Thailand, and the Philippines. Meanwhile, Tokopedia was founded in 2009 and boasts over 100 million monthly active users. The start-ups share investors like Google, Temasek Holdings and Sequoia Capital India.

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