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GoTo posts EBITDA profit in Q1 as Grab merger rumors simmer
GoTo’s delivery, mobility, and fintech units all posted gains.
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GoTo
Bringing you the latest updates on funding deals and activities in the Asia Pacific.
The upstart expands in Southeast Asia, challenging Uber with its Hong Kong entry.
The CEO’s extended tenure reflects confidence in GoTo’s growth trajectory amid fierce competition in Southeast Asia.
Meanwhile, the investors are prizing profitability over merely cutting losses.
The exit is the latest step in GoTo’s quest for profitability, as it narrows its focus to Indonesia and Singapore.
With GMV skyrocketing to USD 16.3 billion in 2023, TikTok Shop is shaking up Southeast Asia’s e-commerce market, giving Shopee and Lazada a run for their money.
Tied to the fortunes of SoftBank’s Vision Fund, the tech sector must now sink or swim.
The e-commerce landscape in Indonesia has come full circle with TikTok completing its comeback story alongside its newfound partner, Tokopedia.