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Leading Indonesian Online Marketplace Tokopedia Secures $100 Million Investment from SoftBank Internet and Media and Sequoia Capital [Jerusalem Post (Israel)](Jerusalem Post (Israel) Via Acquire Media NewsEdge) PT Tokopedia ("Tokopedia"), an online marketplace leader in Indonesia, SoftBank Internet and Media, Inc. ("SIMI") and Sequoia Capital today announced a definitive agreement between SoftBank Corp. ("SoftBank") and Tokopedia, among others, under which SIMI is expected to lead a financing round of approximately $100 million, with participation from Sequoia Capital and existing shareholder SB Pan Asia Fund. With this round of funding, SIMI and Sequoia Capital representatives will join the company's board of directors. Founded in 2009, Tokopedia has grown rapidly to become Indonesia's leading online marketplace. With this new capital, Tokopedia will focus on customer acquisition, hiring, and other initiatives to further strengthen its position as the No. 1 marketplace destination in Indonesia. By partnering with Tokopedia, SoftBank aims to further build its presence towards becoming the No. 1 Internet company in Asia and accelerate business growth by leveraging synergies with its other group Internet companies. William Tanuwijaya, CEO of Tokopedia said, "I'm very excited to welcome SIMI and Sequoia Capital as our new shareholders. I look forward to learning from them and taking Tokopedia to the next level. With this new round, Tokopedia will have enough resources to form the best team, develop world class technology to help our merchants and bring the best commerce experience to our users. We will always prioritize our users, and focus on making our users more successful. And for us that is the most important part of our business model." Nikesh Arora, Vice Chairman of SoftBank and CEO of SIMI said, "We are very pleased to be working closely with Tokopedia. In the Asia region, the growth potential for online marketplaces particularly stands out in Indonesia, and since their founding, Tokopedia has seen remarkable growth with their innovative business model. Leveraging synergies with our network of Internet businesses, we are confident we can help Tokopedia's success in the Indonesian market." Shailendra Singh, Managing Director, Sequoia Capital India Advisors said, "We are incredibly impressed with William's vision for Tokopedia, and the progress that the company has made in connecting buyers and sellers in a seamless and trustworthy marketplace in Indonesia. We are delighted to partner with the Tokopedia team and investors, and look forward to working with them in building a leading Internet company for the future." All rights reserved (c) 2014 The Jerusalem Post Provided by SyndiGate Media Inc. (Syndigate.info). [ Back To TMCnet.com's Homepage ] |