Deals
Mercari Wants to Be the First Japan Startup to Make It in U.S.
- Online marketplace seeking to replicate Japan success abroad
- Enthusiasim for stock pushing up gray market prices before IPO
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Mercari Inc. already made its mark by becoming the first Japanese startup to be valued at $1 billion, but a successful push into the U.S. would make the company a real unicorn.
The Japanese online marketplace raised 130.5 billion yen ($1.2 billion) in an initial public offering last week, after pricing at the top of the targeted range. As investors gear up for the start of trading on Tuesday, the big question is whether the company can execute an ambitious overseas expansion plan, something that no other Japanese tech startup has yet managed to do.