Tokopedia's Two Founders Own Less than 8 Percent of Shares

Tokopedia has reportedly raised $1 billion fresh funding that boosts the company's valuation to $7 billion. To date, KrAsia obtains the information details, the investment is said to be led by BKPM, regarding shareholders and commissioners of the marketplace founded by William Tanuwijaya and Leontinus Alpha Edison. In a moment, both are said to own less than 8% of its shares.

There is some difference about funding information to the public and in the report. However, the table showed "authority division" of the company.

Of the many investors involved in this investment, Softbank and Alibaba become the two biggest investors. Among all rounds and funds get into Tokopedia's pocket, Softbank in total (including its affiliations) has more than 38% shares. Alibaba, through Taobao, placed as the second biggest investor with 25%.

The domination of two is way too different compared with Gojek shareholders composition with no parties having more than 10% of its shares.

In the report, William Tanuwijaya, Tokopedia's Co-Founder and CEO is said to own 5.6% shares, while the Co-Founder and Vice Chairman Leontinus Alpha Edison has 2.3%. In total, they have only 7.9% shares.

Board of commissioners

In addition to both co-founders, William Tanuwijaya and Leontinus Alpha Edison, the other commissioner members of Tokopedia are Eun Woo Lee (SoftBank), Lydia Bly Jett (SoftBank), Shailendra Singh (Sequoia Capital India), Wong Ka Kit, dan Joseph Tsai (Co-Founder dan Vice Chairman Alibaba Group).

The board is led by Kabir Misra, previously worked as Managing Partner of Softbank Capital. This year, even though he left Softbank Capital and build his own startup fund -- worth of $250 million, Misra is said to continue his role as Tokopedia's Head of Commissioner.

Tokopedia is one of nine unicorns receiving the largest funding in Southeast Asia, according to reports published by Google and Temasek this year.

– Original article is in Indonesian, translated by Kristin Siagian