There may be an agreement between Alphabet Inc.’s unit and the Singapore government investment firm regarding this funding soon.
This investment will help Indonesia’s online operator in business expansion. Online marketplace Tokopedia wants to raise up to $ 1 billion
Google and Timask Holdings PTE have agreed to invest in PT Tokopedia. Both companies will invest $ 350 million to about Rs 2500 crore. This was stated in the Bloomberg report citing sources aware of the matter. This investment will help Indonesia’s online mall expand business after Covid-19.
There may be an agreement on funding soon
The report says that there may be an agreement between Alphabet Inc.’s unit and the Singapore government investment firm regarding this funding soon. According to sources, there was a formal dialogue between the two companies before this agreement. Bloomberg said in a report in July that Tocopedia plans to raise $ 500 million to $ 1 billion. For this, the company is looking for many investors.
Talks were held with these companies too
Softbank Group Corp of Japan also has an investment in the online marketplace Tokopedia. The company recently said that it had also talked to US giant Internet companies Facebook Inc, Microsoft Corp and Amazon.com for investment. This investment by Google and Tmask instils confidence in Indonesia’s largest e-commerce operator. Online shopping has increased significantly during the Coronavirus epidemic.
American companies are increasing investment in Asia
After the slowdown in the US and Europe, large Internet companies in the US are seeing growth in Asia. These companies want to take advantage of the rapidly growing smartphone-using population in the region. American company Facebook has bought a stake in India’s Jio Platforms. At the same time, its WhatsApp unit has signed an investment deal with Gojek of Indonesia. Gojek offers digital payment services under the name of Go-Pay.
Tokopedia is Indonesia’s second most valuable startup
William Tanuwijia is the co-founder and Chief Executive Officer (CEO) of Tocopedia. William, along with SoftBank’s founder Masayoshi Son and co-founder of Alibaba Group Holding Ltd, founded Tocopedia. Tokopedia is Indonesia’s most valuable startup after Gojek. During the lockdown, Tocopedia, Lazada Group SA of Alibaba and Shoppee of Singapore have served millions.