By Quynh Nguyen
Indonesian fashion e-commerce site Sale Stock will officially change its name to Sorabel from February 6 as it enters the fifth year of its operations.
The startup has now raised more than $1 million in funding from investors including East Ventures and Quest Ventures.
This move comes amid an ongoing price war between Grab and Go-Jek to grab a bigger share of the ride-hailing market in Southeast Asia’s biggest economy.
From April, all operators of online marketplaces will have to detail each seller’s turnover and report this to authorities.
The $40 million that Ant Financial is putting in Akulaku is expected to value the company at $450 million.
Analysts have said a deal with Ophir would boost Medco’s valuations and help it gain access to international assets.
The largest shareholder in Bukalapak is Indonesian media giant Emtek, which held a 36.86 per cent stake in the online marketplace as of September 30, 2018.
Potential investors in the round include Chinese internet giant Alibaba.
The regulations would meet drivers’ demands for more oversight and higher rates but there are concerns that the rising costs to the companies could stifle their development.
E-commerce unicorn Tokopedia has appointed Agus Martowardojo, Indonesia’s former Finance Minister, as its president commissioner.