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Miguel Cordon · · 1 min readGojek, Tokopedia’s merged entity GoTo plans pre-IPO fundraise
“[GoTo Group] is planning another round of fundraising this summer ahead of launching an initial public offering (IPO) later this year that could make it one of, if not the, most valuable technology companie in Southeast Asia,” the South China Morning Post reported citing Tokopedia president Patrick Cao.
Details:
- GoTo, the entity formed by Gojek and Tokopedia’s merger, will talk about its plans to transport Tokopedia packages using Gojek’s bikes during its discussions with potential investors for the pre-IPO raise.
- Cao said investors in the planned funding round may help GoTo anchor the IPO, which the company expects to execute before the end of 2021.
Context:
- The Indonesian super app and ecommerce major recently announced their merger to form GoTo Group, which will have a combined past valuation of US$18 billion.
- Meanwhile, Gojek’s Singaporean rival Grab announced it was going public in the US through a SPAC deal.
Editing by Collin Furtado and Jaclyn Tiu
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