GOJEK BUSINESS ACTION TO DO ACQUISITION OF PT. BLUEBIRD TBK AS A BUSINESS PLAN FOR A BACKDOOR LISTING STRATEGY

• Main Author: Qorirah, Fadhila
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/46525
• Institution: Institut Teknologi Bandung

Along with technology development, there is a shifting customer preference from using traditional public transportation into ride hailing railways, and indirectly influenced market trend in terms of public transportation. This phenomenon give beneficial impact toward business development particularly in enterprises, hence enterprises are eager to obtain the facility and funding injection in order to maintain the business growth. In line with the study case of this research, Gojek is a private company in ride hailing railways industry that already give economic contribution to Indonesia around Rp44.2 Trillion (US$ 3 Billion) at the end of 2018. Despite the incapability Gojek to pursue the IPO (Initial Public Offering) through regular route of being public listed company. However, with the standfast historical growth of Gojek since it was established, the company considered to have a prospective growth in the future. Therefore, Gojek is adequate to use backdoor listing (reverse takeover) method for doing acquisition of PT. Bluebird Tbk as the market leader of taxi transportation in Indonesia as a short-cut route. Dive into the growth condition of PT. Bluebird Tbk, it gradually decrease and stagnant according to the degradation of market share (Rp12.000/share FY2014 until Rp2240/share FY2018) and increment of net loss (around Rp963 Billion FY2014 until around Rp7.9 Trillion FY2018). Hence, through backdoor listing (reverse takeover) strategy may give beneficial impact toward the companies. This study evidence throughout backdoor listing both of the companies may obtain win-win solution to expand their business in the future