JAKARTA (TheInsiderStories) - Electronic money provider, GoPay, transactions recorded grew 320 percent in 2020 from a year ago, the official announced today. In total, the gross transaction of GoJek reached of Rp170 trillion (US$12.14 billion).
Earlier, the CEO of the tech firm, Andre Sulistyo, said its core services grew positive inline with the increase in the number of active users of 38 million users per month. The demand of several services also experienced an increase such as e-commerce, games, and payment transaction. The PayLater feature also rose by 2.7 times and the groceries transactions jumped by 500 percent, referring to November 2020 data.
Last year, two American giants, Facebook Inc., (NasdaQ: FB) and Paypal Holdings Inc., have joined other global tech players like Google, Tencent and other investors of GoJek in its current fundraise to boost its digital economy in Southeast Asian (SEA) market, with a focus on supporting payments and financial services.
PayPal’ payment capabilities will be integrated into the decacorn’ services and the two companies will also collaborate to allow customers of a digital wallet provider, GoPay, to gain access to its network of more than 25 million merchants around the world.
In addition, GoJek also rumored to merge with Tokopedia, an e-commerce operator under Malaysia’ Grab Holdings. The two digital companies targeting the completion of merger in this month. Both in talks various scenarios on the merger plans with the ultimate goal list the shares on the United States and Indonesian bourse.
The combination of the companies will create an Indonesian internet giant that controls the ride-hailing, digital payments, online shopping and shipping sectors. The analysts calculated after merge the combined company values around $40 billion. Currently valuation of GoJek is $10 billion and Tokopedia $7 billion.
The plans is GoJek investors will hold 60 percent shares of the new entity and 40 percent by Tokopedia investors. To help the “exit strategy” for their investors, Tokopedia has appointed Morgan Stanley and Citi, as an advisors for going public.
GoJek was first established in Indonesia in 2009 as a call center to connect consumers to courier delivery and two-wheeled ride-hailing services. Gojek launched its application in 2015 with only four services: GoRide, GoSend, GoShop, and GoFood. Now the startup has transformed into a Super App, providing more than 20 services across the region.
Written by Editorial Staff, Email: theinsiderstories@gmail.com
