Fadhil Taufik Zhafran

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Basic Academic Reading

Indonesian decacorn Gojek recorded operational profit in its four core businesses this year
to date, which would enable it to expand self-funding in the future. Gojek co-CEO Andre Soelistyo
said the company's core businesses, on-demand transportation services GoRide and GoCar, goods
delivery service GoSend and food delivery service GoFood, had all recorded positive contribution
margins. Profitability means we can make more internal investments to drive our innovations and
rely less on external fundraising

Gojek’s moves toward increased sustainability is not unique among Indonesian unicorns, as
startup funding has slowed in the second half of the year. At the same time, the COVID-19 health
crisis has put a dampener on the ride-hailing sector. A study shows that active users of GoRide and
GoCar declined 14 percent in the last week of March, although the company says that GoSend and
GoFood remained stable. Meanwhile, the e-Conomy SEA 2020 report released this week by Google.

GoPay, saw transactions more than double year-on-year in October as Indonesian

consumers increasingly turned to online platforms for their daily and payment needs. We can remain
resilient during this challenging year and at the same time, we can strengthen our business
fundamentals,” said Andre.