GoTo’s Turnaround: Strategic Shifts and Growth Prospects

In Q4 2023, GoTo saw a significant turnaround, achieving a positive EBITDA of 77 billion rupiah (US$4.8 million) compared to the previous year’s negative adjusted EBITDA of 3.1 trillion rupiah (US$195 million). GoTo Group CEO, Patrick Walujo, credits this to disciplined cost management.

YAMADA Consulting & Spire COO, Jeffrey Bahar, is optimistic about the company’s future trajectory as he sees an opportunity to focus on strategic investments. Jeffrey explains that achieving positive adjusted EBITDA in Q4 2023 means the company can rely on its cash flow and may not require large fundraising efforts. He foresees stability once breakeven is reached, which could potentially lead to dividend income for investors when the company’s financial structure improves. Jeffrey anticipates a reduction in speculative stock fluctuations, with GoTo’s stock gradually increasing towards the IPO price.

GoTo’s strategy revolves around continuous innovation and operational excellence, evidenced by Tokopedia’s partnership with TikTok, which saw a 125% sales surge in December 2023. Analysts view this collaboration as a significant player in the e-commerce market, though regulatory uncertainties persist. Prioritizing its on-demand services and fintech units, GoTo recorded a positive EBITDA of 239 billion rupiah (US$15 million) for the former in Q4 2023. Jeffrey stresses the importance of growing the fintech arm post-Tokopedia’s acquisition, aiming for it to contribute 10% of revenue, facilitating further exploration of its Buy Now Pay Later product through collaborations.  

Click here to read the full article in DealStreetAsia. This article requires user subscription.    

For media enquiries, please contact:

Marie Teo
Manager, Group Marketing Communications
YAMADA Consulting & Spire
Phone: +65 6221 7727
E-mail: [email protected] 

Lorem ipsum

By lorem

Our expertise,
your success.

Craft your journey to growth with us. We are committed to personalizing solutions, delivering them seamlessly, and unlocking new opportunities. Get in touch and experience the Y&S difference.