SoftBank GoTo Back in the spotlight after the Japanese investment giant joined a group of major shareholders that pushed for the replacement of the GoTo Group's CEO, Patrick Walujo. This step is referred to as a strategic maneuver that could pave the way for a potential acquisition by Grab Holdings.
Major investors move in unison.
This movement did not come from SoftBank alone. Two other major investors Provident Capital Partners dan Peak XV Partners, also reportedly joined in the collective pressure against GoTo's management.
According to internal sources, the investors have signed a memo to the board of directors that are calling Extraordinary General Meeting of Shareholders (EGMS)Its main agenda is to carry out. voting Regarding the CEO's position and the direction of the company's strategy going forward.
Dissatisfaction with Stock Performance
During Patrick Walujo's tenure, GoTo's market capitalization has fallen by more than 40%.This performance is deemed not commensurate with investor expectations who are hoping for a rapid post-merger recovery between Gojek and Tokopedia.
For many major shareholders, this decline in value is not only a market matter, but also a matter. trust in leadership.
Barriers to Grab's acquisition plan
In addition to financial performance, Patrick Walujo is also called. refuses further talks related to Grab's acquisition.Some investors view the decision as a strategic obstacle to the significant synergy opportunities between the two Southeast Asian digital giants.
RUPSLB: Pertaruhan Posisi Patrick Walujo
If the EGMS is approved, this extraordinary meeting could become crucial moment For the future of GoTo. The major shareholders are said to have prepared. a special agenda for replacing the CEO, on the grounds of accelerating the recovery of the company's value and opening merger options that are more rational.
Potential replacement candidate
Although it has not been officially announced yet, several internal and external names have begun to be mentioned. A number of investors want a figure who is more open to strategic restructuring dan cross-platform partnership, including the possibility of joining Grab.
Direct effect on the market
This issue immediately shook the capital market. GoTo shares briefly to strengthen slightly After news of investor pressure surfaced, it suggested that management changes could be a positive catalyst for valuation.
Grab Acquisition: "Dramatic Twist" on the Asia Startup Stage
The move by SoftBank and its investor partners is called as dramatic twist in the long journey of GoTo. Over the last two years, the relationship between GoTo and Grab has been marked by fierce competition in the transportation, digital payments, and e-commerce sectors. But now, the situation has changed direction.
Grab in a Stronger Position
Grab Holdings posted steady profit growth and managed to significantly reduce operating losses throughout 2025. This condition places Grab in a position. stronger to carry out expansion through strategic acquisition
Benefit for SoftBank
SoftBank itself has a large stake in both companies. If Grab's acquisition of GoTo is successful, SoftBank could potentially obtain consolidation of investment value dan Southeast Asia technology portfolio efficiency.
This step is regarded as part of SoftBank's post-Son era strategy that aims to focus its portfolio on leading technology entities with regional scale.
Impact on Indonesia's digital ecosystem
If a CEO change really occurs and the acquisition proceeds, its impact will be felt widely in the Indonesian startup ecosystem. GoTo is a symbol of collaboration between two local giants, and this shift in direction could be a signal of ownership shifting into foreign hands.
Regulatory implications
The Ministry and the capital market authorities are likely to monitor this process closely, given GoTo is a public company. that has millions of retail investors. In addition, the acquisition by Grab will open a new discussion about National digital market dominance.
Potential for Business Synergy
From an operational perspective, the merger between Grab and GoTo can create Great efficiency in ride-hailing services, e-commerce, and fintech.However, on the other hand, this merger also has potential. to reduce competition in the Indonesian digital market.
Analisis: Momentum dan Risiko Strategis
Market observers assess that the pressure on Patrick Walujo is a form of dissatisfaction that has long accumulated. Many parties say that GoTo has lost its direction after the IPO, while major investors want Reorient the company's focus back to profitability and regional synergies..
Risk of uncertainty
Even so, a change in management is not without risk. The transition process can create internal uncertainty, especially for thousands of employees who are adjusting to cost-efficiency policies and service automation.
A Golden Opportunity for Repositioning
On the other hand, if properly managed, this momentum could become an opportunity for GoTo to rebuild its reputation with investors and reaffirm its position as a leading player in Southeast Asia's digital economy.
Movement that is led by SoftBank, Provident Capital, and Peak XV marking a new phase in GoTo's corporate dynamics. With mounting pressure on Patrick Walujo, the company's future is now at a crossroads: Continuing in the old direction with the risk of stagnation., or Changed drastically, opening the way toward a major merger with Grab..
If the move to replace the CEO is truly realized, the market will anticipate a new phase of Asia's digital economy integration, where the name GoTo and Grab Could become the symbol of the largest technology alliance in this region.
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