Gojek Pockets $300 Million Investment Ahead of Tokopedia Merger

Gojek Pockets $300 Million Investment Ahead of Tokopedia Merger

A person using the Gojek app. Getty Images.

The Indonesian super app raised an additional $300 million from state-owned mobile operator Telkomsel in what is expected to be its final investment prior to a merger with local e-commerce giant Tokopedia, Nikkei Asia reports.

According to a source familiar with the matter, Gojek and Tokopedia are already informing employees about plans for their combined entity, called GoTo, which could be valued at up to $40 billion and span e-commerce, courier services, food delivery, ride-hailing and more. The source said the deal would take place by the end of June.

Telkomsel previously invested $150 million in Gojek last November in a deal that included an option to inject further funds at a later date. Following that initial investment, the companies said they were in the process of integrating their services.

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