Posted 10/30/2023, 1:37:00 PM
GoTo Narrows Losses in Q3 But Cuts Marketing Spend Impacting Market Share
- GoTo, Indonesia's biggest tech firm, reported narrowed losses in Q3 2022 compared to last year
- GoTo reduced marketing spend which impacted market share, will invest to maintain leadership
- GoTo introduced low-cost options to cater to price-sensitive customers
- Incentives and marketing spend was up 2% quarter-on-quarter in Q3
- GoTo's net losses narrowed in Q3 2022 versus last year
- GoTo aims to be profitable by end of 2022, has enough cash so won't pursue international IPO now