Tokopedia Announces 16 Trillion Rupiah Funding Led by Softbank and Alibaba
Focused on technology development and centralized infrastructur
Randi Eka - 14 December 2018
Today (12/12) Tokopedia officially announces the latest funding worth of $1.1 billion (around 16 trillion rupiah). This round was led by SoftBank Vision Fund and Alibaba Group, participated also Softbank Ventures Korea and Tokopedia’s existing investors. The news has been rumored since last November.
Tokopedia plans to use the additional capital to boost technology and infrastructure development in empowering millions of customers to provide the best service.
“In the first nine years, Tokopedia focused on building the biggest marketplace in Indonesia providing the physical and digital product. Entering the tenth year, Tokopedia will turn our ecosystem into infrastructure-as-a-service (IaaS) where logistics, fulfillment, payment, and our financial service will enable trading, both online and offline. It’ll expand Tokopedia’s scale and network while increasing operational efficiency for millions of business and partners,” William Tanuwijaya, Tokopedia’s Co-founder and CEO, said.
To date, Tokopedia has reached 93% sub-district in more than 17,000 islands all over Indonesia. This year, Tokopedia’s gross merchandise value (GMV) increased by four times. Currently, Tokopedia also provides same-day delivery for 25% of the transactions occurred in its platform.
“Tokopedia provides access to more than 100 million products to all Indonesians. We support and trust the power of local entrepreneurs, and see the potential of Tokopedia’s growth increasing,” Lyda Jett said as SoftBank Investment Advisers’ Senior Investor and Tokopedia’s Board Member.
It was said earlier about the current condition of shareholders in Tokopedia. William Tanuwijaya and Leontinus Alpha Edison are said to hold less than 8% of its company shares. Softbank in total (including its affiliates) owns more than 38% of the company shares. Alibaba, through Taobao, is the second largest investor with 25% shares.
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Original article is in Indonesian, translated by Kristin Siagian