Indonesia’s GoTo reportedly eyeing $2 billion in pre-IPO talks

In a report by Bloomberg, the country’s biggest startup GoTo is targeting a valuation between $25 billion and $30 billion as it launches on the Indonesian stock market this year before it makes its way to New York around 2022. Along with GoTo President Patrick Cao and GoTo Group CEO Andre Soelistyo, Aluwi and Tanuwijaya have created Indonesia’s most valuable startup to date. GoTo aims to give Grab a run for its money–the two have recently found themselves in an arms race to offer services on online mutual funds. While GoJek and Tokopedia will remain to operate separately, the merger has given birth to GoTo Financial, led by Soelistyo, former CEO of GoPay. Beyond the IPO, Aluwi and Tanuwijaya are planning for global domination.

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