Before IPO, Tokopedia Reportedly Was Raising New Funding of 21 Trillion Rupiah

Tokopedia is reportedly collecting a new round of funding (fundraising), the target value is $1,5 billion or equivalent to 21,1 trillion Rupiah. According to the source reported Bloomberg, one of the investors who will be involved is an internet company from the United States – also an investor in Tokopedia in the previous round – which is estimated to participate in providing $1 billion.

Di series G . funding which closed at the end of 2018, the company has raised $1 billion, increasing its valuation to $7 billion. Apart from Softbank and Alibaba, the names of the other investors involved were not disclosed.

On one occasion, William Tanuwijaya had started to mention the plan go public. Although the time is uncertain, internally we have discussed the initiative pre-IPO in the not too distant future. The company continues to strive so that the condition of the company's balance sheet is also in a positive condition.

It is very likely that the additional funds being raised will be focused on increasing the company's traction, before finally having "green" finances and an IPO. Finally, Tokopedia announced that their GMV has reached 222 trillion Rupiah throughout 2019. On various occasions William confirms, instead of regional expansion they want to optimize penetration in Indonesia, including reaching remote rural areas.

President of Tokopedia Patrick Cao He also explained that currently there are more than 60 million SMEs in Indonesia and Tokopedia has only contributed about 6,6 million, equivalent to creating 857 thousand new jobs. They also have around 350 thousand partners and will continue to increase this number amid increasing daily transactions.

Cao also emphasized that even if the IPO plan is imminent, they will prioritize it listing locally first -- unlike Alibaba's debut IPO in New York.