GoTo Group Invests $2.8M in Carousell

by Harvey Hancock
September 6, 2023

Indonesian holding company GoTo Group has invested $2.8M in Singapore-based horizontal marketplace specialist Carousell.

GoTo Group is the largest digital ecosystem in Indonesia, formed in 2021 as part of a merger that includes e-commerce specialist Tokopedia and on-demand delivery service Gojek.

According to its earnings presentation published in August, GoTo generated 5.8 IDR Trillion ($378M USD) in Q2 2023, a 6% YoY increase—at an EBITDA loss of $78M.

Meanwhile, Carousell's Q2 figures released in July paint a similar story—revenues grew but losses widened.

 

by Harvey Hancock
September 6, 2023
Harvey is an accidental real estate journalist and professional copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has worked as a freelance copywriter since 2021, with a special focus on startups real estate. Harvey joined Online Marketplaces as a News Editor in 2022, writing over 2000 news stories and interviewing dozens of high profile industry leaders both in-person and as a co-host of the PPW Podcast.

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