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Grab and Gojek could be merging, with Anthony Tan being the CEO.

The talks are still on-going.


Grab and Gojek could be merging, with Anthony Tan being the CEO. | BEAMSTART News

Southeast Asia's largest internet startups, Grab and Gojek, could be merging, according to a report from South China Morning Post.

According to sources familiar with the matter, both companies have made significant progress in working out a deal to combine their businesses, with SoftBank Group's Masayoshi Son being the key mediator between the talks.

Grab co-founders, Anthony Tan and Tan Hooi Ling.

Nothing has been concluded as of yet, but there is the possible outcome where both companies will be merged under one unified structure, with Grab's co-founder, Anthony Tan, being the chief executive of the combined entity.

Both brands will still continue to run separately for an extended period of time, but consolidation may take place in markets both brands compete in. In Indonesia, the combined entity will operate under the Gojek brand.

The ultimate goal of the merger would be to go for a public listing eventually.

Gojek co-founder, Nadiem Makarim.

Grab and Gojek have been locked in a fierce, expensive battle for dominance in becoming the region's "superapp", offering a wide range of services from ride-hailing, food delivery, and mobile payment services.

If the two companies do end up merging, this could be the largest internet merger in Southeast Asia.

Grab is presently valued north of $14 billion, while Gojek is valued at $10 billion.

ABOUT THE AUTHOR

Alfred Lee

Journalist at BEAMSTART. I write about breaking business news in the region.

Based in Malaysia

Works at BEAMSTART

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