JAKARTA - Tokopedia is currently in discussions with prospective investors for its potentially final private funding round before a dual stock market listing.
In an interview with Bloomberg, Tokopedia CEO William Tanuwijaya said the startup is considering listing its shares on the Indonesia Stock Exchange (IDX) and another as-yet-undetermined location. However, he did not disclose a specific timetable for an IPO due to uncertain market conditions.
“Dual-listing is most likely to be our approach,” said Mr Tanuwijaya on Wednesday (16/10). “We are now in the process of picking the right partners who believe in our vision and mission.”
Mr Tanuwijaya added that Tokopedia, founded in 2009, is aiming to break even by 2020. He also targets the startup’s gross merchandise value (GMV) to triple to as much as US$ 16 billion this year.
“Indonesia’s e-commerce penetration is still 4% to 5%, so the room for growth is still big,” Mr Tanuwijaya asserted. (MS)