Indonesia’s Tokopedia raises another $1.5 billion, eyes dual listing in Jakarta and US

Indonesia’s largest e-commerce market place Tokopedia is set to raise up to $1.5 billion from investors including Singapore’s Temasek, China’s Alibaba and Japan’s SoftBank in the next quarter, a move that would cement its position as the country’s second-biggest unicorn, the Financial Times wrote.

The fundraising would value Tokopedia at between $8 billion and $9 billion, the paper wwrote.

Temasek is expected to lead the round with a $500-million investment, with existing Tokopedia investors SoftBank and Alibaba joining in to avoid any dilution to their existing stakes.

The fundraising was likely to be the last before a possible stock market listing. Tokopedia is looking to list in its home market and in the US within the next three years, Tokopedia president Patrick Cao told Nikkei Asian Review. He noted that the company has already made “appropriate arrangements” for a dual listing.

New partners and accelerated business strategy

The company will use the fresh money “to find the right partners and accelerate its business strategy,” according to Cao.

Tokopedia is the e-commerce market leader in Indonesia ahead of rivals Shopee, Lazada and another Indonesian online market place, Bukalapak. It has benefited from its first-mover advantage in Indonesia, which has helped to secure the biggest slice of the country’s e-commerce market.

Founded in 2009, Tokopedia is an online marketplace that allows individuals and business owners in Indonesia to open and maintain their stores for free. It became the fourth unicorn in Indonesia in 2018. It previously raised $1.1 billion in a funding round led by SoftBank and Alibaba, pushing its valuation to around $7 billion at that time.

Indonesia’s largest e-commerce market place Tokopedia is set to raise up to $1.5 billion from investors including Singapore’s Temasek, China’s Alibaba and Japan’s SoftBank in the next quarter, a move that would cement its position as the country’s second-biggest unicorn, the Financial Times wrote. The fundraising would value Tokopedia at between $8 billion and $9 billion, the paper wwrote. Temasek is expected to lead the round with a $500-million investment, with existing Tokopedia investors SoftBank and Alibaba joining in to avoid any dilution to their existing stakes. The fundraising was likely to be the last before a possible stock market...

Indonesia’s largest e-commerce market place Tokopedia is set to raise up to $1.5 billion from investors including Singapore’s Temasek, China’s Alibaba and Japan’s SoftBank in the next quarter, a move that would cement its position as the country’s second-biggest unicorn, the Financial Times wrote.

The fundraising would value Tokopedia at between $8 billion and $9 billion, the paper wwrote.

Temasek is expected to lead the round with a $500-million investment, with existing Tokopedia investors SoftBank and Alibaba joining in to avoid any dilution to their existing stakes.

The fundraising was likely to be the last before a possible stock market listing. Tokopedia is looking to list in its home market and in the US within the next three years, Tokopedia president Patrick Cao told Nikkei Asian Review. He noted that the company has already made “appropriate arrangements” for a dual listing.

New partners and accelerated business strategy

The company will use the fresh money “to find the right partners and accelerate its business strategy,” according to Cao.

Tokopedia is the e-commerce market leader in Indonesia ahead of rivals Shopee, Lazada and another Indonesian online market place, Bukalapak. It has benefited from its first-mover advantage in Indonesia, which has helped to secure the biggest slice of the country’s e-commerce market.

Founded in 2009, Tokopedia is an online marketplace that allows individuals and business owners in Indonesia to open and maintain their stores for free. It became the fourth unicorn in Indonesia in 2018. It previously raised $1.1 billion in a funding round led by SoftBank and Alibaba, pushing its valuation to around $7 billion at that time.

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