The Amazon of Indonesia? 🚀 GoTo Group IPO Decacorn 💰 Gojek Merges with Tokopedia

Gojek, a CNBC Disruptor 50 company, and e-commerce player Tokopedia, recently announced a merger to create the GoTo Group. GoTo plans to complete an IPO in 2021, which will be listed in Jakarta and the United States, with an expected valuation between $35 and $40 billion. This historic merger marks Indonesia's largest business deal. That's right, Indonesia has its very own decacorn, which is a start-up unicorn with more than a $10 billion valuation.

Indonesia offers tremendous growth opportunities. The Southeast Asian total addressable market is expected to triple to $309 billion by 2025, and $124 billion of that TAM is represented by Indonesia.

Combining Gojek and Tokopedia will create a tech giant consisting of:
100+ million monthly active users
11+ million merchants
2+ million drivers
2% of Indonesia’s $1 Trillion GDP

An estimated 119 million Indonesians live in rural areas. Indonesia is a large, complex archipelago of 17,508 islands, which creates a logistical nightmare for businesses like Gojek and Tokopedia. Combining forces makes sense, and it can unlock tremendous operational advantages. I see this as a threat to Sea Limited's (SE) Shopee e-commerce business, which has already been losing market share to Tokopedia.

Combining Gojek and Tokopedia will also allow GoTo Group take on larger rivals such as Grab, which is Singapore based and also looking to complete a SPAC with Altimeter Growth Corp (AGCUU:NASDAQ) later this year. Upon completion, Grab's plan is to list on the Nasdaq using the ticker symbol GRAB.

GoTo has opportunities in several business segments. An estimated 92 million Indonesians are unbanked, which creates an enormous opportunity for GoTo Group's financial technology (FinTech) division.

Could GoTo Group be an Indonesian three-headed monster like Singapore's Sea Limited (SE)? Is GoTo a threat to Sea Limited shareholders? Perhaps GoTo Group is the Amazon AMZN of Indonesia?

#GoTO #ipo #SE #gojek #AMZN

This is not financial advice.

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