Indonesian tech giant GoTo may raise up to $2b in IPO on back of growing GTV

GoTo, an Indonesian tech giant formed through the merger of the country’s largest startups Gojek and Tokopedia, is reportedly looking to raise $1.5-2 billion in an IPO this year at a valuation of around $31-42.7 billion on the backdrop of its growing gross transaction volume (GTV).

In a document created for investors reviewed by DealStreetAsia, GoTo said it expected significant growth in 2022 to 2024 in terms of GTV and revenue on the back of promotion and marketing efforts.

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