With conservative IPO valuation, GoTo looks to escape fate of tech peers

With conservative IPO valuation, GoTo looks to escape fate of tech peers

GoTo public expose Mar 15, 2022 (Photo courtesy of GoTo)

Indonesia’s GoTo, which detailed plans for a local public listing on Tuesday, has chosen to be conservative about the valuation of the listed entity, as other technology peers are seeing their plus-size valuations being cut to size by the market.

GoTo – formed from the merger of homegrown unicorns Gojek and Tokopedia last year – plans to list on the Indonesia Stock Exchange (IDX) on April 4. It plans to raise $1.3-1.4 billion, implying a valuation of $26.4-28.9 billion depending on where it is priced.

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