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Indonesia’s Most Valuable Startup Is in Talks to Raise Up to $2 Billion Ahead of IPO

  • Merged entity of Gojek and Tokopedia is seeking dual listing
  • Funding round could value the firm as high as $30 billion
INDONESIA-ECOMMERCE-TRANSPORT

Photographer: Juni Kriswanto/AFP/Getty Images

GoTo, Indonesia’s most valuable startup, is in discussions with investors to raise as much as $2 billion ahead of stock-market listings at home and in the U.S., according to people familiar with the matter.

The internet firm, created through the merger of ride-hailing giant Gojek and e-commerce provider PT Tokopedia in May, has begun the process of raising $1 billion to $2 billion at a valuation of between $25 billion and $30 billion, the people said, asking not to be named as the matter is private.

GoTo is planning an initial public offering on the local stock exchange this year before seeking a listing in the U.S., they said. It was last valued at $18 billion.