Indonesian e-commerce giant Tokopedia 'most likely' to list in US in 3 yrs

Tokopedia's Patrick Cao at DealStreetAsia's Asia PE-VC Summit 2019 in Singapore. Photo: DealStreetAsia

Indonesian e-commerce service Tokopedia will go public within the next three years, with a dual listing in the U.S. and its home market of Indonesia, the company’s president told the Nikkei Asian Review on Thursday.

The unicorn — as unlisted companies valued at over $1 billion are called — is backed by Japan’s SoftBank Group, which is run by tycoon Masayoshi Son through its embattled Vision Fund. The fund has seen its portfolio companies struggle to make successful stock market debuts. But Tokopedia, with a firm grip on Indonesia’s e-commerce market, could provide SoftBank’s fund a badly needed IPO success.

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