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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.
Goto Ltd
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
competition watchdog has not received merger notice from grab and goto
09:32 19.03.2025
peak xv shifts strategy amid leadership changes and regional investment cuts
10:30 16.03.2025
GoTo reports narrowed Q4 losses and significant EBITDA growth in 2024
13:18 12.03.2025
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