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GoTo Group Invests $2.8M in Carousell

September 6, 2023

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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 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.

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