GoTo Gojek Tokopedia PT Tbk
F:CK8
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GoTo Gojek Tokopedia PT Tbk
F:CK8
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A
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AGNC Investment Corp
BMV:AGNC
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US |
GoTo Gojek Tokopedia PT Tbk
GoTo Gojek Tokopedia PT Tbk is an Indonesian digital platform group built around three main businesses: ride-hailing and on-demand delivery through Gojek, online shopping through Tokopedia, and financial services through GoTo Financial. People use the apps to book rides, order food and everyday goods, and shop from merchants that sell on the marketplace. The company sits in the middle of daily consumer spending and local commerce, especially in Indonesia. GoTo makes money by charging fees and commissions on transactions, such as delivery and ride service fees, marketplace commissions, advertising, and payment-related services. It also earns from merchant tools and other services sold to the businesses and sellers that use its platforms. Its customers are mainly consumers, drivers, couriers, merchants, and small businesses that want to reach buyers and handle digital payments. What makes GoTo different is that it links several parts of the same digital economy in one ecosystem. A customer can travel, order food, shop online, and pay within connected apps, while merchants can use the platform to sell, promote, and collect payments. That makes GoTo both a consumer app company and a transaction platform that helps move money, goods, and services between buyers and sellers.
GoTo Gojek Tokopedia PT Tbk is an Indonesian digital platform group built around three main businesses: ride-hailing and on-demand delivery through Gojek, online shopping through Tokopedia, and financial services through GoTo Financial. People use the apps to book rides, order food and everyday goods, and shop from merchants that sell on the marketplace. The company sits in the middle of daily consumer spending and local commerce, especially in Indonesia.
GoTo makes money by charging fees and commissions on transactions, such as delivery and ride service fees, marketplace commissions, advertising, and payment-related services. It also earns from merchant tools and other services sold to the businesses and sellers that use its platforms. Its customers are mainly consumers, drivers, couriers, merchants, and small businesses that want to reach buyers and handle digital payments.
What makes GoTo different is that it links several parts of the same digital economy in one ecosystem. A customer can travel, order food, shop online, and pay within connected apps, while merchants can use the platform to sell, promote, and collect payments. That makes GoTo both a consumer app company and a transaction platform that helps move money, goods, and services between buyers and sellers.
Profitability Progress: GoTo narrowed its group adjusted EBITDA loss by 72% year-on-year to negative IDR 1.2 trillion in Q2, and management remains confident in achieving positive adjusted EBITDA in Q4 2023.
Cost Discipline: The company achieved substantial cost savings by reducing its workforce by 24% and non-personnel fixed OpEx by about 10% over three quarters, leading to IDR 1 trillion in annualized savings.
Guidance Raised: Due to strong first-half results, GoTo improved its full-year 2023 adjusted EBITDA guidance to between negative IDR 4.5 trillion and negative IDR 3.8 trillion, from a prior range of negative IDR 5.3 trillion to negative IDR 4.6 trillion.
Revenue & Monetization: Gross revenue grew 6% year-on-year to IDR 5.8 trillion in Q2, driven by improved monetization and a higher group take rate of 4.1%.
GTV Decline: Group GTV fell 5% year-on-year to IDR 143.7 trillion, mainly due to reduced incentives, lower activity from budget users, and more public holidays.
Focus on Budget Consumers: GoTo is launching mass-market products like Hemat for both transport and food to appeal to budget customers, aiming to expand its user base and grow profitably without heavy incentives.
Financial Position: The company reported cash and equivalents of IDR 25.4 trillion, with additional undrawn credit, providing a strong liquidity cushion.
