- Evermos considers US or Jakarta IPO within two years.
- Social commerce firm empowers 600,000 home-based women resellers.
- Strong growth positions startup for potential public listing.
FOMO for that IPO dough
Indonesia’s social commerce startup Evermos eyes a potential IPO in the US or Jakarta within the next two years, revealed co-founder Iqbal Muslimin. The move aims to capitalize on the booming social commerce market.
Evermos links local suppliers with over 600,000 resellers, mostly women working from home.
These sellers leverage their social networks for marketing, fostering direct customer connections. Evermos provides social media training to enhance their skills.
Joining the public party in Jakarta
An Indonesian IPO would add to the nation’s recent listing surge, with 17 startups going public in 2022 alone.
Evermos’ strong performance, aiming for $800 million GMV and EBITDA-positive by Q4 2024, bodes well for its IPO ambitions.
With Indonesia’s social commerce GMV estimated at $8.2 billion in 2023 and projected to reach $22.1 billion by 2028, Evermos’ reseller-driven model could be a winning strategy in this rapidly growing market.
To read the original article: https://www.techinasia.com/evermos-us-jakarta-potential-markets-upcoming-ipo
