Wednesday, October 22, 2014

Indonesian Marketplace Tokopedia Raises $100M From SoftBank and Sequoia




Tokopedia, an online marketplace in Indonesia, has raised an impressive $100 million round led by SoftBank Internet and Media (SIMI), with participation from Sequoia Capital and returning investor SB Pan Asia Fund.

The investment is the second major one announced in Southeast Asia this week, which points to increasing investor interest in the region. Yesterday, Malaysia-based taxi-calling app GrabTaxi said that it raised $65 million to increase its competition against Uber in Southeast Asia.

Founded in 2009, Tokopedia is currently Indonesia’s largest online marketplace and, like Flipkart, Amazon India, and Alibaba.com, allows individual vendors to set up shops. Tokopedia says it will use the new funding to acquire new users and hiring. SoftBank, which along with Sequoia Capital will add representatives to Tokopedia’s board of directors, plans to use its investment in Tokopedia as part of a plan to become the “No. 1 Internet company in Asia.”

Read more.

No comments:

Post a Comment