Society Increasingly Dependent on GOTO Ecosystem Services

Monday, 07 November 2022 – 10:19 GMT+7
Society Increasingly Dependent on GOTO Ecosystem Services - English
The business growth space of PT GoTo Gojek Tokopedia Tbk (GOTO) is still wide. Credit: GoTo

Nico, as he is familiarly called, assessed that many GOTO services have indeed become part of people's daily needs. It is also reflected in GOTO's financial performance until the first semester of 2022.

GOTO's gross revenue in the first half of 2022 increased by 49% to Rp10.7 trillion compared to the same period in the previous year of Rp7.19 trillion (proforma). GOTO's net revenue was recorded at Rp3.39 trillion, raised by 73% compared to the first half of 2021 of Rp1.96 trillion.

In terms of Gross Transaction Value (GTV) on a quarterly basis, specifically in the second quarter of 2022, the GOTO’s GTV reached Rp150.5 trillion or exceeded the target launched on a quarterly basis ranging from Rp142-150 trillion.

“GOTO is the owner of the largest ecosystem in Indonesia. Not only the ecosystem but also the User Experience (EU) they built. Then we’re quite dependent on the application. And the increase in users continues to occur, especially the potential opportunities for the digital economy are very large. This is a market for GOTO which has a large ecosystem and high engagement rate. GOTO has become a need and not a desire,” Nico emphasized.

In the medium and long term, Nico sees GOTO as not only supported by existing business fundamentals but also other business innovations, one of which is included in the electric vehicle ecosystem. Especially motorcycles. “The government has expected electric vehicles to dominate in 2023, this is a momentum for GOTO. When the economy recovers, GOTO can lead electric vehicles,” Nico added. (adv)

The business growth space of PT GOTO is still wide. Viral due to the large number of people uploading proof of transactions on the Gojek application.