fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Lists
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

GoTo Group posts strong start to 2022 as gross revenue grows 53% in Q1

Team AsiaTechDaily by Team AsiaTechDaily
31 May 2022
in Featured, Tech
0
Goto
1
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

PT GoTo Gojek Tokopedia Tbk (GoTo Group), the largest digital ecosystem in Indonesia, posted a strong start to 2022, with year-on-year Q1 gross revenue growth of 53%, outpacing GTV growth of 46%, its filing showed.

Gross revenue for Q1 stands at Rp5.2 trillion and GTV at Rp140 trillion. Improvements in operating efficiency reflected in Q1 contribution margin and adjusted EBITDA margin improvements of 24 percentage points and 14 percentage points, respectively, compared to Q4 2021.

“We can look back on 2021 with pride in our resilience and excellence in execution, demonstrated by strong growth in each of our businesses and overall margin improvements. The formation of GoTo, through the combination of Gojek and Tokopedia, puts us in an even better position to serve customers. As we deepen integration of the businesses, we have been able to enhance operating efficiencies, create multiple cross-platform opportunities and invest for the future growth and profitability of GoTo,” said Andre Soelistyo, GoTo Group CEO.

The group saw strong performance across all three operating companies: On-demand services gross revenue grew 58% outpacing GTV growth of 44% year on year in Q1 2022, supported by recovery in mobility, as well as synergies from collaboration with Tokopedia; E-commerce gross revenue grew 53%, outpacing GTV growth of 28% year on year in Q1 2022; Q1 GTV exceeded Q4 2021 results, despite the first quarter typically being a seasonal low and the fourth quarter a seasonal high.

Financial technology services business also saw record GoPay users and GTV volumes. Q1 2022 on-platform volumes grew 200% year on year, while off-platform volumes grew by 74% in the same period. Strong year-on-year growth supported by a wave of new product initiatives.

“Our operating companies have performed strongly, and gained more benefits on the back of synergies in our ecosystem. We have focused on initiatives that encourage usage between each of our market-leading platforms,” Soelistyo added.

GoTo Group is the largest digital ecosystem in Indonesia. GoTo’s mission is to “empower progress” by offering technology infrastructure and solutions that help everyone to access and thrive in the digital economy.

The GoTo ecosystem consists of on-demand services (mobility, food delivery, and logistics), e-commerce (third party marketplaces + official stores, instant commerce, interactive commerce, and rural commerce), and financial technology (payments, financial services, and technology solutions for merchants) through the Gojek, Tokopedia, and GoTo Financial platforms.

Previous Post

Indian edtech startup PrepInsta plans to double manpower by 100%

Next Post

Bangladesh agritech startup iFarmer raises $2.1m in IDLC-led funding

Related Posts

edit post
Corobot, a disinfecting robot developed by Hills Robotics(Image: Hills Robotics Homepage)
Featured

Korea’s Pangyo Techno Valley: A Pioneering Hub in the Global Robot Industry

September 20, 2023
edit post
Choi Hyun-seok, CEO of F&S Holdings
AR & VR

Fassker CEO on Revolutionizing Fashion through Digital Innovation & Metaverse Technology

September 19, 2023
edit post
Panoramic view of Huons headquarters (Source: Huons YouTube)
Featured

Pangyo Techno Valley, a Cluster of the Korean Beauty Industry, Strengthens Its Global Competitiveness

September 15, 2023
edit post
(Photo = beSUCCESS)
Events

“Born2Global Center”, a Business Support Organization for Global Expansion of Startups, Is Transformed into the “Global Digital Innovation Network Foundation.”

September 14, 2023
edit post
MUIP and MUFG Announce JPY 20 Billion Investment Fund for Startups
Accelerator

MUIP and MUFG Announce JPY 20 Billion Investment Fund for Startups

September 11, 2023
edit post
CEO YiKyung Son of Galloping (Image= beSUCCESS)
Featured

The Vision of CEO YiKyung Son of Galloping: Harnessing Data to Foster the Next Son Heung-min and Build the World’s Premier Soccer Team

September 11, 2023
Next Post
edit post
iFarmer

Bangladesh agritech startup iFarmer raises $2.1m in IDLC-led funding

Discussion about this post

No Result
View All Result

Popular Posts

  • The Top 5 Dating Apps In Asia – 2023

    63 shares
    Share 25 Tweet 16
  • Japanese EV Startup Terra Motors Raises $28 M in Series C Funding for Infrastructure Expansion

    33 shares
    Share 13 Tweet 8
  • How Rohan Gupta Co-Founder And CEO Of QuillBot Raised $4.25M To Make Writing Painless?

    15 shares
    Share 6 Tweet 4
  • Inshorts CEO Azhar Iqubal: The entrepreneur who got news curated for the Millenials & Gen Z 

    13 shares
    Share 5 Tweet 3
  • How Roland Ros, Founder Of Kumu Raised $6M To Build The #1 Grossing Social App In the Philippines?

    13 shares
    Share 5 Tweet 3
  • Kimberly Yao, CEO And Co-Founder Of CloudEats- A Pioneer Cloud Restaurant Company In SouthEast Asia

    12 shares
    Share 5 Tweet 3
  • Indian FinTech startup Jar raises US$32 million in Series A

    9 shares
    Share 4 Tweet 2
  • Top 5 Cross-Border Acquisitions To Eye for in 2023

    9 shares
    Share 4 Tweet 2
  • Park Jaebum, CEO of Sam Corporation: Pioneering ‘Korean Education Technology’ from Finland to Indonesia

    9 shares
    Share 4 Tweet 2
  • Atome Financial and HSBC Singapore Collaborate Again to Expand in the Philippine Market

    9 shares
    Share 4 Tweet 2




  •  Australia
  •  Austria
  •  Bangladesh
  •  Bhutan
  •  Brunei
  •  Bulgaria
  •  Cambodia
  •  Canada
  •  China
  •  Dubai
  •  Europe
  •  Finland
  •  France
  •  Germany
  •  Greater China
  •  Hong Kong
  •  India
  •  Indonesia
  •  Ireland
  •  Israel
  •  Japan
  •  Laos
  •  Lithuania
  •  Malaysia
  •  Mexico
  •  Mongolia
  •  Myanmar
  •  Nepal
  •  Netherlands
  •  New Zealand
  •  Norway
  •  Pakistan
  •  Philippines
  •  Poland
  •  Puerto Rico
  •  Qatar
  •  Russia
  •  Signapore
  •  Singapore
  •  South Korea
  •  Sweden
  •  Switzerland
  •  Taiwan
  •  Thailand
  •  Turkey
  •  Ukraine
  •  United
  •  United Kingdom
  •  United States
  •  Uzbekistan
  •  Vietnam

Topics

  • AI & Big Data
  • AR & VR
  • Blockchain
  • Clean Technology
  • Content & Games
  • Cybersecurity
  • Enterprise & SaaS
  • Gadgets & Electronics
  • Health & Bio

  • Ecosystem
  • EdTech
  • Featured
  • FinTech
  • Investments
  • IoT
  • Marketplaces & E-commerce
  • Robotics
  • Transportation & Logistics

FREE NEWSLETTER

Follow Us

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Lists
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback