Indonesia’s GoTo makes first profit and remains open to Grab merger

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Financial Times 13h ago

Indonesia’s GoTo makes first profit and remains open to Grab merger - Financial Times

Quick Summary:

Outside its home base, the company offers ride-hailing services in Singapore, while Grab operates in eight south-east Asian countries.

GoTo will continue to concentrate on the Indonesian market, which Walujo said still had huge potential across all three of its core businesses.

That would be far below the combined $72bn they were worth at their respective IPOs in 2021 and 2022, with intense competition in the region for ride-hailing and food-delivery services forcing down prices and leading to losses.