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Indonesia’s Tokopedia in Talks to Raise Up to $1.5 Billion

  • 2020 fundraising could be online retailer’s last before an IPO
  • Tokopedia is tapping into country’s fast e-commerce growth
PT Tokopedia's mascot Toped sits on display in the reception area at the company's offices in Jakarta, Indonesia. 

PT Tokopedia's mascot Toped sits on display in the reception area at the company's offices in Jakarta, Indonesia. 

Photographer: Dimas Ardian/Bloomberg

PT Tokopedia, the online marketplace backed by the SoftBank Vision Fund and Alibaba Group Holding Ltd., is in talks to raise as much as $1.5 billion for a final private funding round before an initial public offering, according to people familiar with the matter.

U.S. internet companies as well as existing investors are considering contributing to the round, which could bring in $1 billion to $1.5 billion in the first quarter of 2020, according to the people, who asked not to be identified because the discussions are private. No final decisions have been made and the value of the round could change, they said.