Jumbo Valuation, GoTo Boss Reveals Gojek-Tokopedia Plans until 2031
GoTo’s valuation is estimated at US$ 40 billion or IDR 571 trillion. With this jumbo valuation, the joint company of Gojek and Tokopedia plans to list its initial shares or IPO and target more Micro, Small and Medium Enterprises (MSMEs).
GoTo wants to be a sustainable company, which is not just teaching valuation. “If you want to be successful, look at the next 10 years. What is the valuation figure? It should be sustainable,” said GoTo CEO Andre Soelistyo in an interview session on the CXO Media YouTube channel, last weekend (29/5).
Therefore, GoTo put together at least five plans. First, prepare steps for the IPO. “GoTo as a holding company, we are preparing to become a public company,” said Andre.
The company targets to have an IPO before the end of the year. GoTo will prioritize the domestic stock market to hold an IPO. Currently, the Gojek parent is still studying a number of regulations to be able to take the floor on the stock exchange.
Second, attract more MSMEs. “Our product is a marketplace. We don’t have any goods, either food, e-commerce or transportation. This is the goal of empowering partners,” said Andre.
Before forming GoTo, Gojek had two million driver-partners and 900 thousand MSMEs. Meanwhile, Tokopedia has 10 million merchant partners and 100 million active users. Third, add various services.
“It is also important to improve the quality, to be better,” said Andre. The GoTo Group combines e-commerce services, goods delivery, food delivery, transportation, and finance.
GoTo also oversees GoTo Financial, which includes GoPay, as well as financial services and business solutions for business partners. At Gojek itself, there are several services such as ride-hailing, food delivery, daily necessities providers, logistics, digitizing MSMEs to several financial services.
Meanwhile, Tokopedia focuses on providing e-commerce services, and is affiliated with Dhanapala’s financial technology (fintech lending). In addition, it has a 36.1% stake in OVO’s fintech holding company, Bumi Cakrawala Perkasa.
Focus on Collaboration for the Next 10 Years
Fourth, GoTo focuses on collaboration in the next 10 years. “We are creating an open ecosystem,” said Tokopedia CEO William Tanuwijaya. Fifth, build a sustainable business through various initiatives and commitments.
“Gojek, for example, wants to complete the three zeros commitment by 2030,” he said. Prior to the merger, Gojek committed to Three Zeros: Zero Emissions, Zero Waste and Zero Barriers or zero emissions by 2030.
This Decacorn made various programs as part of commitments such as the electric vehicle development program, making GoTransit to creating a carbon emission calculation feature, namely GoGreener Carbon Offset.
The five plans will be pursued by GoTo until 2031. Based on CB Insight data, GoTo’s valuation has the potential to reach US$ 40 billion. The calculation is that the valuation of each company before the merger is worth US$ 10 billion.
After the merger, the company targets a higher valuation. “The joint company is reportedly targeting a valuation of up to US$ 40 billion in the IPO,” said CB Insight’s report.
Statista estimates that GoTo’s current valuation is US$ 17 billion or IDR 242 trillion. GoTo is included in the list of highly-rated technology companies in the world.
‘Tokek’ was in the Gojek-Tokopedia Joint Name Survey
Gojek and Tokopedia officially merged into GoTo two weeks ago (17/5). GoTo CEO Andre Soelistyo said, “Tokek” was included in the joint list of names surveyed.
Andre said, Gojek and Tokopedia notified their respective employees of the merger action at a large meeting or town hall. At that time, the company included the Tokek in the roster of combined entities to be surveyed.
“We’re on purpose. It’s funny. The name surveyed was Tokek, because it’s very popular. Then, there are Gopedia, Tokojek, and others,” said Andre in an interview session on the CXO Media YouTube channel, last weekend (29 /5).
However, he emphasized that from the beginning Gojek and Tokopedia agreed on the name GoTo. “It’s been GoTo since the beginning,” said Andre.