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.”
In a statement, Nikesh Arora, vice chairman of SoftBank and CEO of SIMI, said, “In the Asia region, the growth potential for online marketplaces particularly stands out in Indonesia, and since their founding, Tokopedia has seen remarkable growth with their innovative business model. Leveraging synergies with our network of Internet business, we are confident we can help Tokopedia’s success in the Indonesian market.”
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