Mercari, whose corporate backers include Mitsui, Itochu, United and GMO, has set its sights on a Tokyo initial public offering that would value it at more than $1.8bn.
Mercari, a Japan-based online marketplace operator backed by corporates GMO, Itochu, Mitsui and United, is looking to list on the Tokyo Stock Exchange by the end of June 2018, Nikkei reported today.
Founded in 2013, Mercari operates a marketplace app enabling users to buy and sell second-hand goods. The company claims its app has been downloaded more than 100 million times across Japan, the US and the UK, particularly attracting a young, unbanked demographic.
Proceeds from the initial public offering,…
