Southeast Asia’ largest online transportation apps, PT Aplikasi Bangsa (GoJek) and Malaysia’ Grab Holdings Inc., in merger talks, global media reported on Monday (Feb 24). The companies with valued US$14 billion and $9 billion deal would be the latest step in consolidation to stem losses caused by costly fight and to broader the businesses.
The talks between Japanese SoftBank-backed and Chinese Tencent-backed GoJek are reportedly is still in the initial stages. As known, the providers have a large market in Southeast Asia, especially in Indonesia. Both not only compete in terms of transportation services, but also in the payment and food-delivery system. GoJek and Grab, which were founded in 2010 and 2012 respectively, wants to be the super apps of choice in Southeast Asia’ largest economy. Both companies are announcing new partnerships and acquisitions almost every week.