Indonesia Super App IPO
The GoTo Group, which was founded earlier this year by the merger of two of Indonesia’s most valued internet businesses, gathered more than $ 1.3 billion in its first fundraising round ahead of its IPO.
“Abu Dhabi Investment Management, Avanda Investment Management, Fidelity International, and Google were among the investors in the pre-IPO round,” the company stated in a statement on Thursday.
Go To Raises $ 40 Million From Leading Abu Dhabi Foundation
GoTo was founded this year by the combination of two of Indonesia’s most valued startups, Gojek, a passenger delivery company, and PT Tokopedia, an e-commerce company.
The company is looking to raise up to $ 2 billion at a valuation of $ 25-30 billion ahead of an IPO in the United States.
“Indonesia and Southeast Asia are among the world’s fastest-growing marketplaces. “Investor trust in the region’s fast evolving digital economy and our leading market position is demonstrated by the support we have promised,” said Go To CEO André Soelistio.
Permodalan Nasional Bernard, Primavera Capital Group, SeaTown Master Fund, Temasek Holdings Pte, Tencent Holdings ltd., and Ward Ferry were among the round’s other sponsors.
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