JAKARTA — Two of Indonesia’s largest tech startups, Gojek and Tokopedia, announced on Monday they will merge, a move that will create one of Southeast Asia’s biggest tech conglomerates and cover everything from ride hailing and digital payments to e-commerce.
The merger will reshape the competitive landscape of the region’s tech scene, which will now become a three-way battle between Singapore-based Sea, Grab and the newly formed Go To Group, which will bring together Gojek and Tokopedia even as the two continue to offer services under their current names.
Gojek and Tokopedia announced in a joint news release that they have “combined their business” with a total valuation based on past fundraising rounds of about $18 billion. They said that is the “largest ever in Indonesia and the largest between two Asia-based Internet and media services companies to date.”
The companies began discussing a possible merger earlier this year, and negotiations accelerated in early April when both…