Tax Burden Overshadows Gojek-Tokopedia Merger Plan

Gojek x Tokopedia
Summary

The merger plan of the two most valuable startups, Gojek and Tokopedia, nears its completion. The holding company resulting from the merger will be announced at the end of April 2021 called GoTo, Bloomberg reported. Gojek Chief Executive Officer Andre Soelistyo is set to head GoTo. Meanwhile, Tokopedia CEO William Tanuwijaya would be Co-CEO with Kevin Aluwi, who is currently Gojek Co-CEO.

Sources familiar with the plan told Bloomberg that Gojek would control a 58-percent stake in the merged company, while Tokopedia would own the rest. GoTo will have three business units: ride-hailing Gojek, e-commerce unit Tokopedia, and payment and financial transaction service provider under Dompet Karya Anak Bangsa or GoPay.

Kevin Aluwi is said to lead Gojek, while William will continue to lead the e-commerce, and Andre will head the GoPay. However, Gojek and Tokopedia management refused to comment on this news.

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