JAKARTA. Two of Indonesia's most prominent unicorns Gojek and Tokopedia are reportedly planning a merger with a valuation of US$18 billion.
According to sources familiar with the matter, the two startups have recently signed several agreements for due diligence. As reported by Bloomberg, the merger will take place in the coming months.
"This is potentially a blockbuster deal," said Usman Akhtar, a partner at management consulting firm Bain & Co.
In December 2020, Tokopedia announced that it had appointed Morgan Stanley and Citigroup Inc as advisors for its upcoming IPO.
"We have not decided where and how we will launch our IPO, and we are still considering a number of options," Tokopedia said in a statement.
According to IDNFinancials.com's data, Tokopedia has pocketed US$2.8 billion in funding from 13 investors since its launch in 2009, while Gojek has obtained US$5 billion from 31 investors since its launch in the same year. (KR/MS)