Author Topic: Alibaba invests $1b in Indonesia's online marketplace Tokopedia  (Read 1088 times)

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Alibaba invests $1b in Indonesia's online marketplace Tokopedia
« on: October 20, 2017, 08:06:03 AM »
Alibaba invests $1b in Indonesia's online marketplace Tokopedia
By Zhang Jie | chinadaily.com.cn | Updated: 2017-08-18 14:01
Alibaba invests $1b in Indonesia's online marketplace Tokopedia

http://www.chinadaily.com.cn/business/2017-08/18/content_30780464.htm

China's e-commerce giant Alibaba will invest $1.1 billion in Indonesia's largest online marketplace Tokopedia.

Previously, the Jakarta-based e-commerce had completed seven rounds of fundraising totaling $247.7 million, with investors including Softbank and Sequoia Capital.

In May, Alibaba's rival JD.com was rumored to invest millions of dollars in the Indonesian company.

Alibaba's move is a latest step in the company's expansion of its online retail business in Southeast Asia.

Before the funding in Tokopedia, Alibaba had invested in Singapore-based online mall Lazada Group SA to acquire 83 percent of its stake.

In June, Alibaba announced a plan to sell Chinese goods abroad.

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