Alibaba to give a fund of 1.1$ Billion for Tokopedia
Post by Anupam Pandey | Dec 14, 2018
The international e-commerce giant Alibaba has reportedly accepted to invest 1.1$ Billion for funding the Indonesian e-commerce company Tokopedia. The funding will be provided in collaboration with Japan’s Softbank Group in the next few months.
This is one of the many similar investments made by Alibaba in the region in the last couple of years and helped it expand in South East Asia’s e-commerce sector. The growth of Alibaba has however seen a decline in the Chinese e-commerce market in the same period.
Tokopedia has asserted that it will boost the company’s growth by investing the funds on technological and infrastructural development while continuing with their plan to limit their focus on the Indonesian market only. The company has stated that it is highly motivated by the support it has got from Alibaba and would certainly drive their company to do much better and steer the economic growth of their company.
The co-founder and CEO of Tokopedia William Tanuvijaya have said in a statement that the investment would be of great help in broadening their market outreach and the scale of operation. While he also insisted that the company would be looking to bolster the efficiency and productivity at the same time. Tokopedia is currently evaluated with a worth of over 7$ billion and is certainly going to see a rapid incline in its market value after this massive investment by Alibaba.
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