Tokopedia Raises Rp 1.2 Trillion Funding from Softbank and Sequoia Capital
Rama Mamuaya - 22 October 2014
Online marketplace Tokopedia annnounces today it has raised astronomical $100 million (Rp 1.2 trillion) investment. It's not an error. Rp 1,2 trillion. This funding easily situates Tokopedia as an e-commerce startup that receives the biggest investment in Indonesia to date.
With this funding, Softbank Internet & Media Inc (SIMI) and Sequoia Capital will put their representatives in board of director position in startup founded by William Tanuwijaya and Leontinus Alpha Edison. This move will be the first by the enormous Sillicon Valley investor Sequioa Capital in Indonesia.
William Tanuwijaya, CEO Tokopedia, stated, "I am very excited to welcome SIMI and Sequoia Capital as Tokopedia's new partner. Through this investment, Tokopedia will have enough resources to build an even better team, develop world class technology to help Tokopedia merchants, and give better experience for our loyal customer. Our customer is our main priority. We focus on helping our merchants to achieve their goals. This is the most important principle of our business model."
Shailendra Singh, Managing Director, Sequoia Capital India Advisors added, "We're very impressed with William's vision for Tokopedia. This company connects buyers and sellers in an online marketplace, with reliable transaction process. We are happy to be part of Tokopedia team and investor, and can't wait to cooperate on building the reputable Internet company in the future."