🛒 Meet GoTo: GoTo is a digital ecosystem in Indonesia that offers on demand services, e-commerce market places/stores and financial services. It's backed by Softbank and the GIC (Singapore Sovereign Wealth Fund)

📉 Better losses: GotTo’s underlying losses went from $233 million (3.7 trillion rupiah) to $59.3 million (942 billion rupiah) thanks to the company lowering operating expenses (like incentives and product marketing) while at the same time leveraging technology.

📣 Despite these better numbers, GoTo does not plan to push through with their IPO.

Here’s some more facts from GoTo:

• 🛍️ Gross transaction value (GTV) is up by 5% (this comes from good ecommerce and on demand services for price sensitive consumers)

• 📈 Gross contribution margin is up by 0.75%

• 💰️ Net losses went from $422 million to $151 million