Gojek And Grab Agree In Silence With A Thousand Languages Related To The Merger Issue

Online Ojek Driver (Angga / VOI)

JAKARTA - Gojek and Grab ride-hailing services are again reported to be merging or merging the two companies soon. But unfortunately, both of them also agreed to be silent in their response to this issue.

According to a source from Bloomberg, Gojek and Grab are now in the negotiation stage and narrowing their differences of opinion in providing services.

In addition, final details are being worked out among the most senior leaders in each company with the participation of Masayoshi Son of SoftBank Group Corp as the main investor of Grab.

"We can not respond to the rumors circulating in the market," said Nila when contacted by VOI, Thursday, December 3.

The issue of the merger of the two companies was due to losses in several countries which were also experiencing economic recession due to the impact of the COVID-19 pandemic, Nila actually denied it because according to him, Gojek's fundamental business is currently getting stronger despite the pandemic impact. Several Gojek services actually contribute positive margins.

"What we can say is that Gojek's business fundamentals are getting stronger, including during the pandemic. We continue to prioritize sustainable growth to provide the best service to our users and partners in all places where we operate," said Nila.

The same thing was conveyed by Grab, which was also reluctant to comment on the plan to merge the two ride-hailing companies. Communications Senior Manager Grab Indonesia Dewi Nuraini, said she did not want to speculate further on this issue.

"Thank you for the question, but we do not comment on the speculation circulating in the market," said Dewi in her short message.

From reports circulating, if this merger occurs then Grab co-founder Anthony Tan will become the CEO of the joint entity, while Gojek executives will run a new joint business in Indonesia under the Gojek brand.

Several parties also participated in questioning the discussion, which arose when the two companies suffered losses in various countries, as well as in Indonesia, which is where the two companies are competing because of large-scale restrictions due to the COVID-19 pandemic.

This can be seen from the valuation value of both applications which fell substantially in the secondary market, where stocks are traded informally. Singapore-based Grab shares worth $ 14 billion in its last funding round in 2019 have been trading at a 25 percent discount.

Likewise, Gojek shares which are headquartered in Jakarta, which were valued at nearly US $ 10 billion last year, have also been sold at a deep discount.