Alibaba-backed Tokopedia Is Considering IPO

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By Zhang Erchi and Mo Yelin / Oct 24, 2019 03:34 PM / Business & Tech

Photo: IC Photo

Alibaba-backed Tokopedia, a major Indonesian online marketplace, is considering an IPO, the company’s President Patrick Cao said in an interview with Caixin earlier this month.

Without offering a specific timetable, Cao just said that the IPO could happen “in a few years.” Executives at Tokopedia are still discussing a potential listing, Cao said.

CEO William Tanuwijaya told Bloomberg News earlier this month that Tokopedia has also begun discussions with potential investors for what’s could be its final private funding round before an IPO. Tanuwijaya has said the company is considering a dual listing — one at home and another in an as-yet-undecided location, according to the report.

Alibaba invested in Tokopedia in August 2017, when the Chinese internet titan led a $1.1 billion fundraising round. The specific amount Alibaba invested was not announced at the time. Alibaba is only a minority stakeholder in Tokopedia, according to Cao.

Contact reporter Mo Yelin (yelinmo@caixin.com)

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