GRAB, GOTO Revisit Talks of Merger

PT GoTo Gojek Tokopedia and Grab Holdings Ltd. have recorded contrasting performances both in terms of stock price and financial performance in the third quarter of 2023.

Artha Adventy

11 Feb 2024 - 15.09
GRAB, GOTO Revisit Talks of Merger

Illustration - GOTO vs Grab.

Bisnis, JAKARTA — PT GoTo Gojek Tokopedia Tbk. (GOTO) and Grab Holdings Ltd. (GRAB) is reportedly revisiting talks for a merger with a market capitalization estimated to reach IDR304.66 trillion.

According to Bloomberg, as cited by, the companies’ merger is still in the early stages of discussion. The combination of the two holds significant potential as they serve various transportation needs and food delivery for 650 million people in the region.

In terms of market capitalization, GOTO is recorded at IDR100.92 trillion as of February 7, 2024. Meanwhile, Grab is valued at $12.99 billion or approximately IDR203.74 trillion (with a JISDOR exchange rate of IDR15,685). If a merger agreement is reached, the total market cap could reach IDR304.66 trillion.

Both companies’ market capitalization has significantly declined compared to their initial IPOs. GRAB raised IPO funds of $4.5 billion or around IDR64 trillion, with a market valuation reaching $39.6 billion or equivalent to IDR578.4 trillion at the time.

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