William Tanuwijaya Confirms Tokopedia Acquisition Over Bridestory
Includes Parentstory as Bridestory's sub-business; Kevin Mintaraga will join as a VP in Tokopedia
Randi Eka - 20 June 2019
In the middle of Tokopedia's event on Wednesday (6/19), the Founder & CEO, William Tanuwijaya confirmed to the media regarding the recent rumor.
"Bridestory and Parentstory have fully acquired by Tokopedia," he said.
The corporate action was due to strengthening the company's ecosystem. He said, Tokopedia can't improve by itself, they have to collaborate with others - including to make acquisitions.
There might be similar actions made on some related startups to support Tokopedia's business, in the form of full acquisition, strategic partnership, or investment.
Bridestory acquisition was to tighten its position in empowering offline business to optimize potential through technology. The wedding vendors in Bridestory and children vendors in Parentstory are considered significant to elaborate with Tokopedia.
Post the acquisition, Bridestory's Co-Founder & CEO, Kevin Mintaraga is to occupy Tokopedia's BOD as a Vice President (VP). Regarding integration service mechanism, it is to be designed to fully connect with Tokopedia's platform.
The acquisition rumor didn't stop here. Previously, the company is said to be involved in Laku6 startup acquisition to provide "Tukar Tambah" platform in some product categories. Meanwhile, both companies agree to form a strategic partnership, by attaching Laku6 feature in Tokopedia's system.
–Original article is in Indonesian, translated by Kristin Siagian