Indonesian Tech Giant Denies Merger
Jayson 20 Feb 2024 08:37
According to reports, in response to merger rumors, GoTo stated in a document submitted recently: "The company would also like to emphasize that the company is not currently having any discussions on such matters."
![](https://bigseller-1251220924.cos.accelerate.myqcloud.com/static/faq/2024/1708417976406396.jpg)
Relevant media have reported that Grab and GoTo have restarted potential merger talks to curb the losses caused by fierce competition with each other.
![](https://bigseller-1251220924.cos.accelerate.myqcloud.com/static/faq/2024/1708418061111732.jpg)
"The company would like to emphasize that the company's fundamentals and financial position are increasingly strong," GoTo said.
The company added that it had achieved its "aggressive fourth-quarter 2023 Adjusted EBITDA guidance while exceeding the high end of its full-year Adjusted EBITDA guidance range."
![](https://bigseller-1251220924.cos.accelerate.myqcloud.com/static/faq/2024/1708418109225232.jpg)
The company is set to release fourth-quarter and full-year 2023 results in March.
GoTo Group was established in May 2021 from the merger of two of Indonesia’s largest startups, Gojek and Tokopedia.
![](https://bigseller-1251220924.cos.accelerate.myqcloud.com/static/faq/2024/1708417976406396.jpg)
Relevant media have reported that Grab and GoTo have restarted potential merger talks to curb the losses caused by fierce competition with each other.
![](https://bigseller-1251220924.cos.accelerate.myqcloud.com/static/faq/2024/1708418061111732.jpg)
"The company would like to emphasize that the company's fundamentals and financial position are increasingly strong," GoTo said.
The company added that it had achieved its "aggressive fourth-quarter 2023 Adjusted EBITDA guidance while exceeding the high end of its full-year Adjusted EBITDA guidance range."
![](https://bigseller-1251220924.cos.accelerate.myqcloud.com/static/faq/2024/1708418109225232.jpg)
The company is set to release fourth-quarter and full-year 2023 results in March.
GoTo Group was established in May 2021 from the merger of two of Indonesia’s largest startups, Gojek and Tokopedia.