Tokopedia

GoTo's reduction in promotion to customers is the first step in the right direction, the analyst says.

“We forecast robust gross revenue uptick for its key segments.”

Grab has been expanding beyond ride-hailing into financial services and originally invested in Ovo as part of that effort.

Andre Soelistyo is set to become group CEO of the merged entity.

The managements and boards of both startups are now formally seeking approval for the deal from shareholders.

The target valuation in the public markets is between US$35 billion and US$40 billion, one of the people said.

A combined Gojek and Tokopedia would dominate in Indonesia, one of the world’s fastest-growing internet economies.

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