Patrick Walujo's Critique of GOTO and Appeals in Startup IPOs

Gojeks early backer criticized GOTO Financials slow development pace.

Bisnis.com, JAKARTA – An initial public offering (IPO) is no longer considered a profitable option for venture capitalists. Reflecting on tumbling GOTO shares and declining startup valuations, venture capital companies choose to avoid these risks.

Northstar Group Co-Founder Patrick Walujo observed that technology companies must still focus on fundamentals and essential things. Patrick assessed that technology companies are doing an excellent job of cost reduction.

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