January 6, 2021, 12.55 AM

KOMPAS.com – Two of Indonesia’s startups, ride-hailing and payments giant Gojek and e-commerce pioneer Tokopedia have discussed merging.

The Bloomberg news agency reported that both firms are keen to seal the deal in the coming months. This merger is expected to create an Indonesian powerhouse with a valuation of $18 billion.

Their businesses include delivery services, transportation, payment services, and online shopping.

On the preparations of the Covid-19 vaccine in the country, the Indonesian Ulema Council (MUI) is currently finalizing its halal edict on the Covid-19 vaccine from China’s Sinovac Biotech Ltd before a mass inoculation program.

So far, Indonesia has received a total of three million doses of coronavirus vaccine from Sinovac recently.

Below are excerpts from the news in Indonesia, curated by Kompas.com editors:

1. Gojek in Merger Talks with Tokopedia

Indonesia’s ride-hailing and payments giant Gojek is said to be in discussions about merging with local e-commerce pioneer PT Tokopedia, the Bloomberg news agency reported on Tuesday, January 5.

If the two startups were merged, this would make Tokopedia and Gojek dominate the country’s digital economy market as their business scope would cover delivery services, transportation, payment services, and online shopping.

The merged entity would create an Indonesian powerhouse with a valuation of about $18 billion.

Sources familiar with the issue told Bloomberg that the merger is in line with a planned initial public offering of both firms.

Both startups have signed a detailed term sheet to conduct due diligence of each other’s business, according to Bloomberg.

Source: https://money.kompas.com/read/2021/01/05/141200126/gojek-dan-tokopedia-dikabarkan-merger-persiapan-ipo-.


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