Gojek’s combination with Tokopedia
Davis Polk is advising PT Aplikasi Karya Anak Bangsa (“Gojek”) on its business combination with PT Tokopedia (“Tokopedia”) to form GoTo Group, the largest technology group in Indonesia. Based on historical fundraising rounds for Gojek, priced in 2019 and Tokopedia, priced in early-2020, the combined past valuation of both companies was $18 billion.
Gojek is Southeast Asia’s leading mobile on-demand services and payments platform. Tokopedia is a technology company with the leading marketplace in Indonesia.
The Davis Polk corporate team includes partner Miranda So, counsel Sam Kelso and registered foreign lawyers Samuel Kang and Joo Park. All members of the Davis Polk team are based in the Hong Kong office.