Indonesia’s Tokopedia raises $100m from Softbank, Sequoia

Indonesia’s leading e-commerce marketplace, PT Tokopedia, will be receiving $100 million in funding from Japan’s SoftBank Corp and Sequoia Capital. The funding round, led by Softbank, is the largest ever investment received by an Indonesian startup. 

This is also Softbank and Sequoia Capital’s first investment in Indonesia. The deal is expected to close in December.

Both Sequoia and Softbank, which led the round through the bank’s investment arm, SoftBank Internet and Media Inc (SIMI), will get board representation.

Prior to this, the Indonesian online market place that began operations in 2009, had raised funds in several rounds, including investments from PT Indonusa Dwitama (2009), East Ventures (2010), CyberAgent Ventures (2011), BEENOS (2012) and SB Pan Asia Fund last year. Among its existing shareholders, only SB Pan Asia Fund participated in the latest round.

Tokopedia will use the proceeds to focus on customer acquisition, hiring, and other initiatives to further strengthen its position, the company said.  

“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,” said William Tanuwijaya, CEO of Tokopedia, in a statement.

Former Google executive and Softbank Vice Chairman Nikesh Arora remarked that amongst its Asian peers, Indonesia stands out in the terms of growth potential for online marketplaces. “Tokopedia has seen remarkable growth with its innovative business model,”he observed.

By partnering with Tokopedia, SoftBank aims to further build its presence as a leading Internet company in Asia and “to accelerate business growth by leveraging synergies with other group Internet companies,” his statement added.

Shailendra Singh, Managing Director, Sequoia Capital India Advisors said, “We are incredibly impressed 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”.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.