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GoTo reported a 37% increase in net revenue for Q1, while its net loss decreased by 34%. This positive financial performance highlights the company's growth trajectory and improved operational efficiency.
Southeast Asia's cleantech sector is crucial for addressing climate change, with renewable energy firms leading funding efforts at $143.6 million in the past year. Despite a significant funding drop in 2024, the region's startups continue to innovate in areas like electric vehicles and waste management.In other news, Malaysia's Prime Minister Anwar Ibrahim reassured that the country would not face a recession despite new US tariffs, emphasizing strong economic fundamentals. Meanwhile, Asian markets reacted negatively to escalating US-China trade tensions, and India launched a helpline for startups to report corruption.
The latest episode of the 60/40 Podcast explores the transformative impact of AI on startups and venture capital, discussing how both early and late-stage companies adapt in this evolving landscape. Key topics include the human edge in startup building, the implications of AI-driven firms on VC portfolios, and the current fundraising climate in Southeast Asia. Additionally, the episode addresses regional reactions to recent tariffs and acquisition rumors involving Grab and GoTo.
The Competition and Consumer Commission of Singapore (CCCS) has not received any merger notification from Grab or GoTo, despite reports of discussions. The CCCS advised both companies to seek legal counsel to ensure compliance with competition laws, as a merger could dominate the ride-hailing market in Singapore and Indonesia. Grab has not commented, while GoTo has limited its statements to stock exchange disclosures.
Peak XV, spun off from Sequoia Capital in June 2023, faces scrutiny after senior leaders departed and fund sizes were cut. Despite this, many executives left to pursue new ventures with Peak XV's support, indicating amicable exits. The firm is shifting focus to the US and investing in companies targeting global markets, particularly in AI, while scaling back in Southeast Asia.
GoTo Group reported a narrowed net loss of US$56.3 million for Q4 2024, down from US$4.9 billion a year prior, despite a slight revenue drop to US$255.3 million. Adjusted EBITDA surged to US$24.3 million, reflecting growth in user numbers and a strong performance in its financial technology segment, which saw a 95% revenue increase. For 2025, the company anticipates full-year adjusted EBITDA between US$85.1 million and US$97.3 million.
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Goto reports 37 percent revenue growth and reduced net loss in Q1
13:28 29.04.2025
southeast asia's cleantech sector faces funding challenges amid global economic shifts
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