Aditya Hadi Pratama · · 1 min readIndonesia’s Tokopedia injects $1.2m to local fulfillment subsidiary
Tokopedia, the Indonesian ecommerce major that merged with Gojek to form GoTo Group, has injected 58.4 billion rupiah (around US$3.9 million) to its subsidiary Semangat Bambu Runcing, which focuses on investments.
About 18.4 billion rupiah (around US$1.2 million) of that amount was channeled into Adi Sarana Logistik (ASL), the company that runs a fulfillment service named TitipAja.
Photo credit: Tokopedia
TitipAja is a joint venture between Tokopedia subsidiary Roda Bangun Selaras and publicly listed transportation company Adi Sarana Armada. They each control around 40% of the fulfillment service.
Adi Sarana Armada also poured US$1.2 million into ASL.
TitipAja works closely with its sister company AnterAja, which focuses on delivery services.
In the first quarter of 2022, GoTo Group’s gross revenue jumped 53% from a year ago to 5.2 trillion rupiah (around US$357 million), propelled by growth in its on-demand and ecommerce services. However, its operating losses widened by more than 3x to US$455 million in the same period.
Recently, GoTo Group injected US$6.3 million and US$55,860 into GoCar and GoSend, respectively, through its Vietnam-based subsidiary Viet Lotus.
See also: GoTo Group’s financial health in 4 charts
Currency converted from Indonesian rupiah to US dollar: US$1 = 14,824 rupiah.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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