1. Startups

Gojek Official Acquisition of Moka, Reportedly Value Reaches 2 Trillion Rupiah

It has been submitted to KPPU; sources close to the agreement disclose information

Startup acquisition news point-of-sales Moka by Gojek finally came to light, having been a rumor ever since August 2019 then. First, the company has reported the corporate action to the regulator, in this case the Business Competition Supervisory Commission – now it can also be read through KPPU official website dated April 9, 2020.

Description of the acquisition of Moka by Gojek on the KPPU website

Then second, today (23/4) Bloomberg also reported, a source close to the deal said the acquisition of Moka had been completed Gojek worth US $ 130 million or the equivalent of 2 trillion Rupiah. This figure is a slight increase from the previously circulating US$120 million. The transaction has been under negotiation since last year and only reached an agreement a few months ago.

This strategic step was carried out Gojek taking advantage of the series F funding that has been going on since last October 2018. Mid-March 2020 it was reported, the company received an additional US$1,2 billion fund or equivalent to 18 trillion Rupiah for the round, completing the acquisition target of US$ 3 billion or equivalent to 42,2 trillion Rupiah.

Moka's role can be very significant. Based in Jakarta, currently the company founded by Grady Laksmono and Haryanto Tanjo since 2014 has reached users in 100 cities in Indonesia. More than 35 thousand restaurants, cafe, and other retail outlets take advantage of the app mobile devices POS owned.

Moka's record of achievements throughout 2019 / Moka

Realizing that there is a lot of competition in this business vertical, Moka continues to innovate, including by presenting the Moka Fresh platform (purchase of raw materials) and Moka Capital (loans of funds). merchant) – in the caption Tanjo says that Moka's vision becomes “merchant super app”, intends to accommodate the various needs of retailers in an integrated manner through a digital platform.

In addition to recording cash transactions, Moka's cashier system allows business owners to accept payments using digital platforms such as Gopay, Ovo, LinkAja, and even Kredivo and Akulaku. While a more in-depth collaboration scenario between Gojek and Moka has not yet been delivered.

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This is the umpteenth acquisition process that has been carried out Gojek towards Indonesian startups. Previously decacorn The local government also seized several startups including Loket, Kartuku, Midtrans, Mapan, and Promogo.

Some of the acquisition results have succeeded in expanding the service ecosystem Gojek, for example consolidating with the Loket team that produces GoTix services. Loket founder Edy Sulistyo was lined up to lead his entertainment division Gojek.

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