GoToPublic (IDX: GOTO)
GoTo operates Southeast Asia's first integrated super-app ecosystem formed through the 2021 merger of Gojek and Tokopedia. Revenue streams include ride-hailing commissions, delivery fees, marketplace commissions, payment processing, advertising, and merchant services. The company went public on IDX in April 2022.
Investment Thesis
"Dominant position in world's 4th largest country with integrated ecosystem creating high switching costs. Massive unbanked population (51%) provides fintech growth runway. High-frequency services (rides, food) combined with high-value transactions (e-commerce) creates unique engagement moat."
Recent Signals
- 01Sold 75% of Tokopedia to ByteDance/TikTok for $1.5B (Dec 2023).
- 02Advanced acquisition talks with Grab at $7B+ valuation (2025).
- 03Launched Sahabat AI local LLM.
- 04TikTok Shop processes transactions through GoPay ecosystem.
Key People
- NNadiem Makarim
- KKevin Aluwi
- WWilliam Tanuwijaya
- LLeontinus Alpha Edison
Cap Table
Verified Funding History
| Round | Date | Amount | Participating Investors |
|---|---|---|---|
| Debt | Sep 2025 | US$ 280M | DBS Indonesia, UOB |
| IPO | Apr 2022 | US$ 1.1B | Public Market (IDX) |
| Pre-IPO | Nov 2021 | US$ 1.3B | ADIA, Google, Tencent, Temasek, Fidelity |
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