ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Technology

GoTo seeks path to profit as a key player takes a step back

Move comes as founding CEOs at regional rivals Sea, Grab tighten grip

 GoTo executives appear at the company's inaugural annual shareholders' meeting on June 28 after listing in April. (Photo courtesy of GoTo Group)

JAKARTA -- A co-founder of one half of merged Indonesian superapp provider GoTo has stepped away from day-to-day management, as the company struggles to turn a profit amid a downturn in the global technology industry.

GoTo Group was established in May last year through the merger of two big local startups: ride hailing company Gojek and e-commerce platform Tokopedia. Both made their mark as unicorns, or private companies valued at more than $1 billion.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more