Startup, IPO???
Currently, I running my Startup, called SVARA, since September 2017, in field of Platform for Radio, Podcast, & Music. In General, in order to scale up the Startup, we need an investment. Todays, there is an alternative for the investment of Startup, it’s an Initial Public Offering (IPO) instead of staging startup funding, such as: Seed Funding, Pre-A, Series A, until Series G.
Currently, IDX have 2 types for IPO, the first one is called “papan pengembangan” or the firm that have NTA (Net Tangible Asset) minimum IDR 5 Billion and the second one is called “papan utama” or the firm that have NTA minimum IDR 100 Billion. But, IDX said that, they will make the other ones, called “papan akselerasi“, the requirement is quite easy, the firm has running minimum 1 year, allowed don’t have NTV and allowed in income loss condition. The Startup with this characteristic will also get the opportunity to conduct IPO. IDX also have the Incubator to accelerate and encourage Startup for IPO, SVARA is one of the Startup that join in the IDX Incubator since October 2018.
Kiosan, Startup founded in 2015, be the first Startup that has succeeded to do IPO in October 2017, they release 23% Shares and get more than IDR 45 Billion. The next one is MCash, Startup founded in 2010, IPO in November 2017, release 25% Shares and get more than IDR 300 Billion fresh money. The last one is NFCX, startup founded in 2013, IPO in July 2018, release 25% Shares and get more than IDR 308 Billion.
Maybe, we can’t do the fundamental analysis for those 3 Startups that has listed in the IPO, because usually it’s need more than 3 years since listed to do this analysis. But, this just proven that in order to scale up the Startup, IPO can be one of the other alternative to get the fundraising, instead of do staging startup funding. Maybe, SVARA will do the same thing like IPO, ASAP, or maybe not. Let just time answer this question.
Reference:
www.dailysocial.id
www.kumparan.com
www.idxincubator.com
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