“The strength of our business is that we are more than the sum of our parts. Our ecosystem of on-demand, e-commerce and financial technology services connects millions of consumers, driver-partners and merchants, with the mission to empower progress for everyone in the fast-growing digital economy. We are proud that we’ve come from humble origins in Indonesia, earned the trust of millions of consumers, driver-partners, and merchants, partnered with leading global investors and are now taking our next steps in building an iconic, internationally renowned technology company.”
GoTo Group combines on-demand, e-commerce, and financial services through the Gojek, Tokopedia, GoTo Financial platforms. According to its press release, the integration of the three businesses under a single ecosystem brings synergies including a hyperlocal delivery network, cross-platform consumer loyalty capabilities and a broad financial services offering across multiple use cases. This ecosystem contributes to more than 2% of Indonesia’s GDP and its services address nearly two-thirds of the country’s household consumption, GoTo Group claims.
As part of the IPO, and in-line with its ongoing commitment to delivering a positive social impact, GoTo Group is also planning to launch the Gotong Royong Share Program, which will provide the Group’s most active, long-serving and loyal driver-partners, merchants and consumers, as well as employees, with the opportunity to benefit from the IPO. Under the program, all full time employees have been made participants in the Group’s Long-Term Incentive Plan Program, long-serving driver-partners are set to receive grants, while the most loyal merchants and GoTo Group consumers will be eligible to purchase shares via a fixed allocation at IPO.
Analysts believe that an Indonesian IPO makes more sense than one on Nasdaq given global uncertainties and the tech sell-down, including of GoTo Group's peer, Grab Holdings.
