19 May 2021
Merger of PT Aplikasi Karya Anak Bangsa (“Gojek”) and PT Tokopedia
Partners Bono Daru Adji and Indira Yustikania from Assegaf Hamzah & Partners acted as the Indonesian legal counsel to PT Aplikasi Karya Anak Bangsa (“Gojek”) in the merger between Gojek, Indonesia’s first decacorn, and PT Tokopedia, one of Indonesian largest and most recognised unicorns. The merger, effective on 17 May 2021, formed GoTo Group, which is poised to become the largest technology group in Indonesia, creating a “go to” ecosystem for daily life by combining e-commerce, on-demand services, and financial services. GoTo Group generated a gross transaction value of more than USD 22 billion in 2020, with more than 1.8 billion transactions and up to 100 million monthly active users. The group also contributes 2% to Indonesia’s total GDP.