What is GOTO Strategy to Achieve Profitability?

By Editorial Team 09/12/2022
Ilustrasi GoTo
Summary

PT GoTo Gojek Tokopedia Tbk (GOTO) is implementing several strategies to achieve financial independence and run a sustainable business. GOTO Finance Director Jacky Lo explained three ways to accomplish this: being careful to reduce operating expenses, releasing non-core assets and the company's investment portfolio, and exploring private placement options that shareholders have approved on June 28, 2022.

Jacky said in the third quarter GoTo reduced costs, reflected in the average monthly burn rate, which fell 13 percent from the previous quarter. "This figure is also 20 percent lower than the first quarter of this year," Jacky said in an incidental public expose on Thursday. GoTo's three main lines of business, Gojek, Tokopedia, and GoTo Financial, also had a pretty good performance through Sept 2022. Gojek recorded a Gross Transaction Value of Rp 15.7 trillion, up 24 percent from a year earlier. Tokopedia's GTV rose 15 percent to Rp 69.9 trillion, while GoTo Financial's GTV reached Rp 97.1 trillion, up 78 percent.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.