GoTo Group is an Indonesian tech startup and holding company formed in 2021 in a joint venture between Indonesia’s biggest tech companies, Gojek, an e-commerce company, and Tokopedia. <\/p>\n\n\n\n
In 2015, the two companies signed a deal that involved Gojek delivering Tokopedia’s products through its services. <\/p>\n\n\n\n
The merger between the two companies has raised $1.1 billion from its initial public offering (IPO). The company is optimistic about raising the crippling Indonesian tech sector. <\/p>\n\n\n\n
In the meantime, GoTo is set to make its first appearance on Monday in Jakarta and admits one of the world’s greatest IPO<\/a> in 2022.\u00a0<\/p>\n\n\n\n The debut will serve as a new beginning for Indonesia’s $70million economy for startup companies. It could be the largest in the Southeastern Asian country. <\/p>\n\n\n\n An exclusive report from Reuters<\/a> stated that the tech startup, late last month, made a public announcement that it has a valuable amount of investors for its IPO. <\/p>\n\n\n\n GoTo has opened up about its previous bidding, which had a value of $26.2 billion to $28.8 billion. This figure would automatically place it as Indonesia’s 4th biggest firm while targeting tech startups. The IPO, however, will be opened to new retail investors in April. <\/p>\n\n\n\n GoTo is emulating the footsteps of another tech startup, Bukalapak<\/a>. The e-commerce company recently acquired over $1.5 billion in Indonesia’s larger IPO. <\/p>\n\n\n\n According to Shane Chesson, a partner at Open Space ventures, Gojek’s earliest investors, “GoTo is the most differentiated technology company in Southeast Asia. Relative to its peers, diversification is going to be a very important thing that investors will need to get on top of and understand how to properly value the business.” <\/p>\n\n\n\n Indonesia’s tech company has been predicted to grow five times its value up to $330 billion by 2023. The prediction was made by consultancy Bain & Co and GoTo backers <\/a>Alphabet Inc (GOOGL.O) and Temasek Holdings Pte Ltd (TEM.UL).<\/p>\n\n\n\n GoTo is selling 4% in shares and widening its investor base by allocating over 600,000 shares to its drivers. It’s backed by big industry names such as Alibaba Groups Holding Ltd<\/a>, SoftBank Group Corps, Vision Fund 1, and Abu Dhabi Investment Authority.<\/p>\n\n\n\n With 2.5 million registered partnered drivers, 14 million registered merchants, and 55 million users at the end of 2021, there’s arguably no competition.<\/p>\n\n\n\n In particular, this merger helps Gojek and Tokopedia work on bigger regional rivals like Singapore Grab and internet company Sea, which runs the E-commerce platform Shopee.<\/p>\n\n\n\n Currently, GoTo Group’s business cuts across ride-hailing, E-commerce, and financial services.<\/p>\n\n\n\n It’s now one of the biggest collaborations in Southeastern Asia.\u00a0\u00a0<\/p>\n\n\n\n Photo by sarmin_hi<\/a> from Flikr<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" GoTo Group is an Indonesian tech startup and holding company formed in 2021 in a joint venture between Indonesia’s biggest tech companies, Gojek, an e-commerce company, and Tokopedia. In 2015, the two companies signed a deal that involved Gojek delivering Tokopedia’s products through its services. The merger between the two companies has raised $1.1 billion<\/p>\n","protected":false},"author":77,"featured_media":51194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"subtitle":"","footnotes":""},"categories":[10564],"tags":[7205],"class_list":["post-51193","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tech-2","tag-startup-en-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/posts\/51193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/users\/77"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/comments?post=51193"}],"version-history":[{"count":0,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/posts\/51193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/media\/51194"}],"wp:attachment":[{"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/media?parent=51193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/categories?post=51193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rudebaguette.com\/en\/wp-json\/wp\/v2\/tags?post=51193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Good news for the Indonesian economy <\/strong><\/h2>\n\n\n\n
Could there be competition lingering around for the tech startup?<\/strong><\/h2>\n\n\n\n