GoTo Group has sold its on-demand video platform GoPlay to the unit’s former CEO Edy Sulistyo as part of the Indonesian tech giant’s plan to shed non-core assets and become Ebitda profitable by the end of the year.
Sulistyo confirmed the deal on Friday at the Nexticorn startup event in Bali. “Today we announce the complete rebranding from GoPlay to Everywhere,” he said.
Sulistyo said the newly independent company had just launched its service in Bali, “We are now in 50 locations in five cities. We have been delivering this quietly,” he added.
A deal of some sort had been expected since mid-August, when GoTo’s newly appointed CEO Patrick Walujo stated in the company’s second-quarter earnings call that GoTo would exit its entertainment business.
Sulistyo refused to disclose the value of the acquisition, but said he and his partner Bagus Utama have also acquired GoTo’s ticketing platform Loket in a separate transaction. The pair had cofounded Loket in 2013, and then sold it to GoJek in August 2017.
GoJek introduced GoPlay in September 2019, initially offering subscription-based video content akin to Netflix, focusing on Indonesian movies and series.
GoPlay secured $15 million in a funding round led by ZWC Partners and Golden Gate Ventures in June 2019, valuing the company at $60 million (Sulistyo says both firms are still shareholders of Everywhere).
GoPlay had been positioned as a competitor to social media platforms like TikTok and Instagram with a streaming service that allowed artists to perform live and engage with fans. Sulistyo claims to have attracted a community of more than 2,000 performers, including musicians, magicians, and religious speakers, who earn income through online gifts from viewers.
The ride-hailing and food delivery company Gojek merged with e-commerce platform Tokopedia to become GoTo in May 2021. It was the largest merger in Indonesia’s corporate history.