TEMPO.CO, Jakarta - Homegrown tech company PT GoTo Gojek Tokopedia Tbk (GOTO) has neither confirmed nor denied reports of a potential merger with Grab. The GOTO management acknowledged receiving various business proposals from multiple parties.
Corporate Secretary R.A. Koesoemohadiani stated that the management is obligated to explore diverse business opportunities. This process includes a thorough evaluation of all offers received, and as such, no definitive agreement has been reached. "There is no agreement between the company and any party at this time," she clarified in a disclosure to the Indonesia Stock Exchange (IDX) on Thursday, May 8, 2025.
According to Koesoemohadiani, this cautious approach aims to optimize any potential collaboration should a business plan materialize. She emphasized that the management is prioritizing the company's long-term sustainability, including enhancing value for all shareholders. "This involves considering the best interests of our driver partners, MSME partners, customers, employees, and all key stakeholders," she explained.
Despite acknowledging the various business proposals, Koesoemohadiani reiterated that no agreement has been established. "The company has not made any decisions regarding offers that may be known to or received by the company," she said.
Koesoemohadiani highlighted the company's strong performance in the first quarter of 2025. GOTO achieved its highest adjusted EBITDA for fintech and on-demand services, along with significant annual core gross transaction value (GTV) growth. "This reflects the company's robust product mix and strategic execution across its integrated ecosystem," she affirmed.
From January to March 2025, GOTO recorded a net income of Rp4.2 trillion, a 37 percent year-on-year increase. This figure represents an increase from the Rp4.07 trillion recorded in the same period the previous year as of March 31. In terms of revenue, delivery services generated Rp1.39 trillion, service fees contributed Rp1.37 trillion, loans amounted to Rp763 billion, e-commerce service fees reached Rp216 billion, advertising fees totaled Rp110 billion, and other sources contributed Rp370 billion.
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