Indonesia’s Tech Pioneer Raises $1.5 Billion Through IPO To Battle ‘E-Commerce War’

indonesias tech pioneer raises 1 5 billion through ipo to battle e commerce war

Sumary of Indonesia’s Tech Pioneer Raises $1.5 Billion Through IPO To Battle ‘E-Commerce War’:

  • Rachmat Kaimuddin’s promotion to CEO of e-commerce firm Bukalapak early last year came as a surprise to many—including himself.
  • The majority of Bukalapak’s employees were not yet born during the Asian financial crisis in 1997, and too young to remember much from the global financial crisis in 2008, he says.
  • Kaimuddin, on the other hand, vividly recalls Lehman Brothers’ collapse and other events from the financial meltdown, which unfolded shortly after he received an M.
  • Forbes Asia Bukalapak’s roster of investors also includes Singapore’s sovereign wealth fund GIC, China’s Ant Group, U.S. tech giant Microsoft, Standard Chartered bank and South Korean web portal Naver Corporation, among others.
  • Forbes Asia Some analysts say the firm’s valuation looks too pricey.
  • “Bukalapak’s market share in Indonesia’s e-commerce field does not justify its IPO valuation,” Bloomberg Intelligence analysts Nathan Naidu and Matthew Kanterman said in a recent report.
  • Yet, Bukalapak’s enterprise value-to-forward-GMV (gross merchandise value) has a ratio of 1.5 times, higher than that of Tokopedia’s 0.5 times, the analysts pointed out in their report.
  • “Huge investor appetite for Southeast Asian tech, amid a lack of publicly listed alternatives, may back Bukalapak’s price tag,” they added.

Want to know more click here go to source.

From -

Generic selectors
Exact matches only
Search in title
Search in content

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.