GoTo

Sources: Grab's planned acquisition of GoTo has hit a snag over Indonesian carrier Telkomsel's unwillingness to sell its ~2% stake in GoTo at current valuations

Sources: Grab's planned acquisition of GoTo has hit a snag over Indonesian carrier Telkomsel's unwillingness to sell its ~2% stake in GoTo at current valuations

Grab Holdings Ltd.'s planned multibillion-dollar acquisition of GoTo Group has hit a stumbling block.

GoTo, which operates Gojek and is a part owner of e-commerce company Tokopedia, reports adjusted EBITDA of $23.5M for 2024, its first annual profit

A. Anantha Lakshmi / Financial Times :

Sources detail how TikTok struck a deal with GoTo to buy a ~75% stake in Tokopedia for $840M, letting TikTok restart TikTok Shop in Indonesia in December 2023

Agata Pinastika Kenastuti's children's clothing shop in Jakarta, Indonesia, was full of inventory when TikTok Shop shut.

Ride-hailing company GoTo plans to close its Gojek brand in Vietnam, to focus on reaching profitability in its main operations in Indonesia and Singapore

Olivia Poh / Bloomberg :

Grab reports Q2 revenue up 17% YoY to $664M, below $676.9M est., and a $53M net loss, down from $135M in Q2 2023, as competition with GoTo weighs on its growth

Olivia Poh / Bloomberg :

LastPass separates from GoTo, which announced the spinoff in December 2021, six years after buying LastPass; the service suffered high profile hacks in 2022

It's been over a year and a half since LastPass suffered back-to-back high-profile hacks, and the company now says it has separated from its parent company, GoTo.

GoTo reports a $5.76B net loss in 2023, up over 2x YoY, due to a write-down after TikTok bought a ~75% stake in GoTo's Tokopedia, on ~$933.6M in net revenue

Nana Shibata / Nikkei Asia :

Sources: Singapore-based Grab and Jakarta-based GoTo revive talks for a ride-hailing merger in Southeast Asia; GoTo says “no such discussion is taking place”

Bloomberg :

TikTok plans to invest $1.5B and take a 75% stake in GoTo's e-commerce unit Tokopedia, part of a deal that lets TikTok restart its shopping service in Indonesia

https://lnkd.in/g6FC2myN Fabian Moa / Fabian Moa, CFA, FRM, CTP, FMVA, AFM : The recent strategic alliance between GoTo and TikTok presents a fascinating blend of opportunities and risks for investors...