Latest news with #PTGoToGojekTokopedia
The Star
7 days ago
- Business
- The Star
Indonesia's tech firm adds 29.5 bln USD, 2 mln jobs to economy
JAKARTA, Aug. 12 (Xinhua) -- Indonesia's largest digital firm, PT GoTo Gojek Tokopedia (GoTo), generated 480.72 trillion rupiahs (29.5 billion U.S. dollars) in economic value in 2024 and created over 2.03 million jobs, a report showed Tuesday. The study by the Jakarta-based Prasasti Center for Policy Studies found GoTo's direct economic contribution reached 355.33 trillion rupiahs (21.8 billion dollars), with indirect impacts of 125.39 trillion rupiahs (7.7 billion dollars). The company's activities also helped cut the national poverty rate by 0.45 percentage points. "GoTo has delivered real social impact by creating jobs, increasing incomes, and expanding financial inclusion for MSMEs and informal workers," said research director Gundy Cahyadi. He called for stronger government policies and incentives to bolster local digital industries as part of an equitable and sustainable growth strategy. GoTo, the country's largest internet technology firm, offers services in mobility, delivery, payments, financial services, and merchant technology solutions.
Reuters
10-06-2025
- Business
- Reuters
Singapore's Grab denies reports of talks with Indonesia's GoTo for a potential deal
June 9 (Reuters) - Singapore-based ride-hailing and delivery company Grab (GRAB.O), opens new tab said on Monday it was not in any talks on a potential deal with smaller Indonesian rival GoTo ( opens new tab. Reuters reported last month that Nasdaq-listed Grab was looking to strike a deal to buy GoTo in the second quarter and had hired advisers to work on the proposed deal, citing two sources with knowledge of the matter. A deal could value GoTo at around $7 billion, according to a separate source with knowledge of the matter. "There have been media reports that we are engaged in discussions for a potential transaction with PT GoTo Gojek Tokopedia Tbk. The parties are not involved in any discussions at this time and Grab has not entered into any definitive agreements," Grab said in a stock exchange filing. Bloomberg reported on Friday, citing unnamed sources, that Indonesia's sovereign wealth fund Danantara was considering a role in Grab's planned $7 billion acquisition of GoTo. Danantara's managing director of investment, Stefanus Ade Hadiwidjaja, told Indonesian online media outlet Tempo, in a statement on Monday, that there have been no such discussions. GoTo, in a statement to the Jakarta bourse on Monday, reiterated its previous statements that there has been no agreement with any party about a potential transaction. "We will continue to maintain a high hurdle rate when deploying our capital and will have a balanced approach to investing for organic, profitable growth and be highly selective on inorganic opportunities, in line with our capital allocation framework," Grab said in its filing. "Indonesia continues to be an important country in serving our mission as we continue to outserve our Indonesian customers, driver- and merchant-partners," it added. Media reports, citing unnamed sources, have appeared on and off for a few years about a possible merger between Grab and GoTo. In a separate statement, Grab said its on-demand gross merchandise value grew 19% in April and May from a year earlier, while the number of mobility rides for April and May rose 23%.
Yahoo
12-03-2025
- Business
- Yahoo
Indonesia's GoTo posts first full-year underlying profit, eyes strong growth for 2025
(Reuters) -Indonesia's biggest tech firm PT GoTo Gojek Tokopedia on Wednesday forecast a sharp increase in its underlying earnings for 2025, while also reporting its first full-year underlying profit for last year. GoTo, which offers ride-hailing, food deliveries, logistics and financial services, forecast core earnings, or adjusted EBITDA, of between 1.4 trillion rupiah and 1.6 trillion rupiah ($85.16 million and $97.32 million) for the current year. It swung to an underlying profit of 327 billion rupiah for 2024, from a loss of 3.670 trillion rupiah last year. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. The firm's financial technology segment, whose earnings jumped 70% last year, is expected to expand further in 2025 as the user base for its GoPay app and its loan book grows, the company said. ($1 = 16,440.0000 rupiah)
Yahoo
12-03-2025
- Business
- Yahoo
Indonesia's GoTo posts first full-year underlying profit, eyes strong growth for 2025
(Reuters) -Indonesia's biggest tech firm PT GoTo Gojek Tokopedia on Wednesday forecast a sharp increase in its underlying earnings for 2025, while also reporting its first full-year underlying profit for last year. GoTo, which offers ride-hailing, food deliveries, logistics and financial services, forecast core earnings, or adjusted EBITDA, of between 1.4 trillion rupiah and 1.6 trillion rupiah ($85.16 million and $97.32 million) for the current year. It swung to an underlying profit of 327 billion rupiah for 2024, from a loss of 3.670 trillion rupiah last year. The firm's financial technology segment, whose earnings jumped 70% last year, is expected to expand further in 2025 as the user base for its GoPay app and its loan book grows, the company said. ($1 = 16,440.0000 rupiah) Sign in to access your portfolio
