Indonesia's tech soul is on the line
Southeast Asia’s tech landscape is bracing for a tectonic shift. Reports emerged this week that Grab Holdings Ltd., the Singapore-based ride-hailing giant, is raising capital to acquire GoTo Group, a consumer tech company and one of Indonesia’s most valuable startups.
GoTo - born from the 2021 merger of Gojek and Tokopedia - has been a cornerstone of Indonesia’s digital economy. The GoTo ecosystem offers mobility, delivery and financial services, as well as extends e-commerce services through Tokopedia and banking solutions through its partnership with Bank Jago.
The potential deal isn’t just a juicy headline for the daily’s business section; it’s a litmus test for the country to retain control over its technological destiny, especially after losing Tokopedia’s e-commerce arm to TikTok in early 2024 .
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Rianovel Mare