Tokopedia poised to become the next great Asian IPO story
Indonesia’s e-commerce giant Tokopedia, a unicorn valued several billions of dollars, has confirmed its plans for an initial public offering, although the company remains vague about the market place and the method of going public.
What started as an online shopping app in 2009, today offers a thriving consumer-to-consumer market place and other products through its digital platform such as loans, online payments, virtual credit cards, digital wallets, flight tickets, event tickets, games vouchers and much more in a country of 270 million people
The company, which raised money to reach a $7.5-billion valuation in November from Google and Singaporean state fund Temasek, said it had approached Citi and Morgan Stanley to begin work on a public listing.
“We are considering [accelerating] our plan to go public… we have not decided yet which market and method, and still considering options,” a Tokopedia spokesperson said.
Potential merger on the cards
The statement comes after Bloomberg News reported that Bridgetown Holdings, an investment company backed by billionaires Richard Li and Peter Thiel, is considering a potential merger with the Jakarta-based company.
In the transaction, Tokopedia, which is backed by SoftBank and Alibaba, would be valued at $8 billion to $10 billion, sources said in the report, adding that Li is already a minority investor in Tokopedia.
Tokopedia, which was founded in Indonesia in 2009, currently has 100 million monthly active users and is a competitor for regional e-commerce sites Lazada and Shopee.
Indonesia’s e-commerce giant Tokopedia, a unicorn valued several billions of dollars, has confirmed its plans for an initial public offering, although the company remains vague about the market place and the method of going public. What started as an online shopping app in 2009, today offers a thriving consumer-to-consumer market place and other products through its digital platform such as loans, online payments, virtual credit cards, digital wallets, flight tickets, event tickets, games vouchers and much more in a country of 270 million people The company, which raised money to reach a $7.5-billion valuation in November from Google and Singaporean...
Indonesia’s e-commerce giant Tokopedia, a unicorn valued several billions of dollars, has confirmed its plans for an initial public offering, although the company remains vague about the market place and the method of going public.
What started as an online shopping app in 2009, today offers a thriving consumer-to-consumer market place and other products through its digital platform such as loans, online payments, virtual credit cards, digital wallets, flight tickets, event tickets, games vouchers and much more in a country of 270 million people
The company, which raised money to reach a $7.5-billion valuation in November from Google and Singaporean state fund Temasek, said it had approached Citi and Morgan Stanley to begin work on a public listing.
“We are considering [accelerating] our plan to go public… we have not decided yet which market and method, and still considering options,” a Tokopedia spokesperson said.
Potential merger on the cards
The statement comes after Bloomberg News reported that Bridgetown Holdings, an investment company backed by billionaires Richard Li and Peter Thiel, is considering a potential merger with the Jakarta-based company.
In the transaction, Tokopedia, which is backed by SoftBank and Alibaba, would be valued at $8 billion to $10 billion, sources said in the report, adding that Li is already a minority investor in Tokopedia.
Tokopedia, which was founded in Indonesia in 2009, currently has 100 million monthly active users and is a competitor for regional e-commerce sites Lazada and Shopee.
