Save the date. GoTo has finally announced that it's scheduled to list on the Indonesian Stock Exchange (IDX) on April 4— under the ticker GOTO. It's looking to raise at least 15.2T rupiah (aka, $1.1B) in this IPO.

• It is Indonesia's largest private tech company
• It raised $1.3B pre-IPO from investors like Google, Tencent and Temasek in November 2021.
• GoTo contributes to over 2% of Indonesia's GDP.

Stockin' it up! With IPO price set as 316–346 rupiah (aka, $0.022–$0.024) per share, GoTo's estimated to have a market cap of $26.2B–$28.8B. (For comparison, Bukalapak's landmark listing last year brought it to a valuation of $7.5B)

• It aims to offer 48–52B new Series A shares, representing around 4.35% of the company.
• This is set to make it the 4th largest listed company on the IDX.

‍

🤵🏻‍♂️👰🏻‍♀️  Power couple

GoTo, born from the epic merger of Gojek and Tokopedia, contributes to over 2% of Indonesia's GDP. It's also present in Vietnam and Thailand through Gojek. The business is split across multiple sectors, mainly:

Financial services. Financial and payments services and partnerships with over 20 banks and financial institutions.

On-demand services. Mobility (ride-hailing) and logistics, lifestyle and entertainment and food and groceries.

• It has over 2.5 million registered driver-partners.

E-Commerce. Marketplace, digital goods, business solutions and local services.

‍

🚀  What's next?

While you might think the business already seems massive, there's still room to grow.

• In an investor briefing, GoTo's CEO stated that "GoTo's market penetration rates are still lower than developing countries."

Stopping for seconds. It's also looking to do a secondary listing overseas by the end of 2023, but we hear that the location isn't final yet— options on the table include the US, Singapore, London and Hong Kong.