A handout photograph shows models enacting package delivery. (Photo courtesy of GoTo)

GoTo Joins Fortune’s Change The World List

OCTOBER 14, 2022

Jakarta. Tech giant GoTo has joined business magazine Fortune’s Change the World List 2022 after allocating $20 million of its shares to its driver-partners when the company made its debut in the Indonesian Stock Market earlier this year.

GoTo was formed from a merger between ride-hailing giant Gojek and e-commerce firm Tokopedia. The company’s debut in the stock market made headlines, during which it raised $1.1 billion in the initial public offering (IPO). GoTo allocated $20 million worth of shares to 600,000 driver-partners in Indonesia, Singapore, and Vietnam, according to Fortune.

“The program aimed to foster loyalty and a sense of ownership among GoTo’s driver base. But it also boosted financial literacy and inclusion in Indonesia, a country that is one-third unbanked –enabling many drivers to engage with the financial system for the first time,” Fortune wrote.

The share grant was part of the Gotong Royong Share Program. This program also enables merchants, consumers, and employees to benefit from the IPO.

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Sitting in first place of Fortune’s Change The World 2022 list is fintech giant PayPal. Followed by Alibaba, JD.com, and Meituan in second place. Then Walmart came in third place.

GoTo becomes the highest-ranking Southeast Asian company on Fortune’s Change The World 2022 list. GoTo ranked 13, following SEA Group —the holding company of online marketplace Shopee— which sat in 25th place, and Bukalapak (BUKA) in 50th place.

Fortune’s Change The World 2022 list showcases companies that have had a societal impact through their business activities. This marks the third time that GoTo made it to the list.

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