GoTo Financial covers services such as GoPay, GoSure, GoInvestasi, GoPayLater, Midtrans and Moka. Tokopedia is one of Indonesia's most popular online shopping portals and, it has been reported, its ‘most valuable tech business after Gojek itself’. Kevin Aluwi is the company's CEO and he has said it was "founded on the realization that we could better utilize the informal sector to reduce life’s daily frictions for people in Indonesia". Gojek is an on-demand multi-service platform that books drivers for transportation or for other services such as grocery deliveries. GoTo comprises three business arms: Gojek, Tokopedia, and GoTo Financial. On 11 April 2022, GoTo listed on the Indonesia Stock Exchange with a $1.1 billion IPO at a price of 338 IDR per share, climbing more than 15% to 388 IDR in the first day of trading. In March 2022, GoTo announced that it would list on the Indonesia Stock Exchange the following month, expecting to issue 52 million shares, and raise at least US$1.1 billion from the IPO. In December 2021, it was reported that GoTo had "hired banks to help it raise around US$1 billion" from an initial public offering (IPO) in Indonesia. In May 2021, GoTo's financial services arm, GoTo Financial, was also created at the same time as the merger. GoTo was founded in May 2021 and it was reported shortly afterwards that the combined entity had 100 million monthly active users, more than 11 million merchants, and over 2 million drivers and offered e-commerce, ride-hailing, food delivery and financial services among other offerings. In 2015, the two companies began a partnership, through which Gojek drivers delivered Tokopedia products. Gojek was founded in Indonesia in 2010 as a call center to arrange transportation and courier deliveries, while Tokopedia was founded in Indonesia in 2009 as an e-commerce platform. Īlibaba and SoftBank each own about 9 per cent of GoTo. GoTo is the most valuable startup in Indonesia, contributes to about 2% of the country's GDP. The company was formed in 2021 in a merger - the largest in the country at that time between Indonesia's two most valuable startups, ride-hailing giant Gojek and e-commerce firm Tokopedia. PT GoTo Gojek Tokopedia Tbk, trading as GoTo, is an Indonesian holding company.
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