Indonesia’s GoTo lost almost 70% of its valuation since its April IPO

A GoTo logo seen displayed on a smartphone screen and in the background. Rafael Henrique | Sopa Images | Lightrocket | Getty Images Indonesia’s GoTo Group has lost 68.5% of its initial value of 400 trillion rupiah ($28 billion) since its initial public offering in April. While the stock has ticked lower most of the … Read more

Indonesia’s Mt. Semeru volcano eruption buries homes, damages bridge

Smoke rises from Mount Semeru in Lumajang on December 5, 2022. Juni Kriswanto | AFP | Getty Images Improved weather conditions Monday allowed rescuers to resume evacuation efforts and a search for possible victims after the highest volcano on Indonesia’s most densely populated island erupted, triggered by monsoon rains. Mount Semeru in Lumajang district in … Read more

VC firms will be pickier in 2023

Venture capital-backed companies only raised $369 billion for the first three quarters of 2022, according to Crunchbase data. A total of $679.4 billion was invested globally in 2021. Malte Mueller | Fstop | Getty Images Venture capital firms in Southeast Asia will probably be pickier next year, with valuations plunging and economic headwinds slowing growth … Read more