GoTo Group Invests $2.8M in Carousell

September 6, 2023
Share this Post: 

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.

 

September 6, 2023
Harvey is an experienced property journalist and 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 blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Re Portal Of The Future
Opinion: 5 Things I’d Like to See More of on Real Estate Portals

In the past, I've been critical of real estate portals and their slow adoption of new features. As my old...

Read More
Shutterstock 2072299229
CoStar Posts 12% Revenue Growth in Q2 but Sales Growth Slows at Homes.com

The U.S. real estate data giant CoStar has posted its hotly anticipated figures for the second quarter of 2024. Notable...

Read More
Propertypal Belfast Houses
Agents Agree to End Boycott of Northern Irish Portal PropertyPal After Talks

An agent boycott of leading Northern Irish real estate vertical PropertyPal appears to have been ended after positive talks between...

Read More
Investment And Funding Roundup 19 July 2024
Investment and Funding Roundup: Lhoopa, StudentTenant, Renters.pl

We've spotted three significant funding and investment movements this week, from an $80 million round in South Asia and two...

Read More

Editor's Pick