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[GoTo: Go Far, Go Together]
Did you know about the nation’s latest hot topic where our 2 local unicorn companies, Gojek and Tokopedia, had decided to merge into unity under the name GoTo?
Both companies, Gojek and Tokopedia, are trailblazers in Indonesia’s digital sector, and have been fostering Indonesian pride from the outset, even integrating their brands with the nation’s success.
This enthusiasm inspired many local brands across many categories: from micro-enterprises to new technological startups, it leads local enterprises and many copies Gojek and Tokopedia’s story of ‘made in Indonesia.’ Thus this combination can rekindle this spirit and strengthen it.
What are the differences they bring with the presence of GoTo?
Well, as a progressive startup, the corporation does have strong ambitions in reaching its goals.
1. Before the end of the year, the company is targeting an IPO. The domestic stock market is prioritized by GoTo to hold an IPO. Gojek is currently still studying several regulations to take the floor on the stock exchange.
2. The objective of attracting MSMEs is to empower partners. Gojek had 2 million drivers and 900 thousand small and medium-sized businesses before its formation. Meanwhile, Tokopedia has 10 million trading partners and 100 million active users.
3. The GoTo Group brings together e-commerce services, food, and goods delivery, transportation, and finance. In addition, GoTo oversees GoTo Financial, including GoPay, as well as financial services for business partners and business solutions.
4. In a decade, GoTo focuses on collaboration to create an open ecosystem.
5. They also plan to create sustainable business development by utilizing a variety of initiatives and commitments.
The existence of GoTo can be a stimulus for the development of national digital talent, as Mr. Nadiem Makarim (Founder of Gojek) stated. Furthermore, it can be proved that Indonesia can develop ideas for technological development.
The five plans will be pursued by GoTo until 2031. The valuation of GoTo, based on data from CB Insight, might reach a value of USD 40 billion. The estimated value of each company is US$10 billion before the merger. The corporation aims to enhance its valuation after the merger. A higher value would certainly reflect if the mergers are able to demonstrate to potential investors on how powerful they can be and in which new segments they can compete and grow. The integrated combination of the two enterprises will open up several synergies to each other and will probably strengthen them in their own industries.
Hopefully, both companies will continue to thrive and coexist with the visionary goals above as stand-alone brands in the reinforced ecosystem.
Source: CNBC, KataData, Campaignasia
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