Bisnis.com, JAKARTA – The presence of GoTo, which is a new entity resulting from the merger of Gojek and Tokopedia, is expected to heat up the competition for national technology companies in Asean.
This is because before GoTo arrived, the market for Asean technology companies was marked by the superiority of Sea Ltd. which is the holding company of Shopee and Grab Inc. However, after GoTo arrived, the competition for Asean technology companies was getting more intense.
Moreover, according to Bloomberg, GoTo’s valuation from a combination of Gojek and Tokopedia reached US $ 35 billion – US $ 40 billion. The value is quite large for companies from Indonesia and Asean.
A number of observers also think that GoTo’s presence will shake the dominance of Sea Ltd. from Singapore and Grab Inc. Malaysian origin in Asean. Moreover, GoTo is projected to be able to become a capable superapp company.
However, GoTo’s efforts to dominate and seize the Asean market are unlikely to be easy. This can at least be seen from the performance of one of GoTo’s competitors, namely Sea Ltd. throughout the last quarter I / 2021.
As reported by Bloomberg, Wednesday (19/5/2021), Sea Ltd reported that its revenue has more than doubled in January-March 2021.