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Out of this growth, Indonesia is the biggest contributor to the internet economy in the region. Home to over 273 million, the population of Indonesia makes up 35 per cent of the total population of Southeast Asia.Īccording to a research report by Google, Temasek Holdings and Bain & Co, Southeast Asia’s internet economy could swell to US$300 billion (about S$415 billion) by 2025, three times its current annual size. The Battleground Of Southeast Asia’s Digital Economy: Indonesiaįor any companies looking to dominate Southeast Asia, the Indonesia internet battleground is key. However, all discussions have came to an impasse after both parties failed to agree on certain issues pertaining to control over the combined Grab-Gojek entity.Īccording to reports, Grab requested for significant voting power in the merged company, and feels that they should own a bigger percentage of the merged company as its finances are more “robust” compared to Gojek. On the other hand, Grab’s last known valuation was around US$14 billion, hence a combined Gojek-Tokopedia entity would potentially have a higher valuation than Grab.Įarlier last month, a potential merger talk between Gojek and Grab reportedly made significant progress. To put the values of the companies in context, Gojek is currently valued at about US$10.5 billion, while Tokopedia is valued at around US$7.5 billion. The two multi-billion dollar company have signed an agreement to conduct due diligence of each other’s business, according to sources familiar to the matter. The combined entity plans to be listed in the United States and Indonesia. Bloomberg reported today (Jan 5) that Gojek is in advanced merger talk with Tokopedia, which is one of the largest e-commerce sites in Indonesia.Īccording to the report, the merger may conclude in the upcoming months.