Tokopedia confirms acquisition of wedding marketplace Bridestory

Photo: Bloomberg

Indonesian e-commerce unicorn Tokopedia has acquired wedding marketplace Bridestory, the former announced in an official statement.

Along with its acquisition of Bridestory, Tokopedia said it has also sealed a deal to acquire activities marketplace Parentstory, a separate business under Bridestory. The deal marks an exit for Bridestory’s investors which include Skystar Capital, Venturra and East Ventures.

DEALSTREETASIA had first reported in May that Tokopedia was in talks to acquire Bridestory.

Tokopedia says it has acquired all the assets of Bridestory and Parentstory, including physical and digital assets,
intellectual property, and human resources. The deal also sees Bridestory founder and CEO Kevin Mintaraga join Tokopedia’s management as Vice President, while Bridestory co-founder Doni Hanafi will take up the position of COO of Bridestory.

However, in terms if their operation, the two companies will continue to develop their products and run their businesses independently, Tokopedia said.

“Through this acquisition, Tokopedia is committed to become a partner for these vendors to help them grow and evolve through technology, in favor to provide every bride and groom in Indonesia the best experience for one of the best moments of their lives. It is also the same with Parentstory in providing parents the best solutions and activities for their children,” said Tokopedia co-founder and CEO William Tanuwijaya.

Through this acquisition, Bridestory and Parentstory will be able to synergize their services and harness Tokopedia’s platform and ecosystem to further expand their reach.

Moreover, Bridestory partners will be able to utilize Tokopedia platform for their interests in presenting their products and services. Correspondingly, Parentstory users, as well as partners, can purchase various choices of children’s activities through Tokopedia.

Launched in 2014, Bridestory is Indonesia’s leading wedding marketplace, connecting couples with wedding vendors and professionals.

The company secured its Series A investment in 2015 in a round led by Germany’s Rocket Internet and joined by Skystar Capital and Venturra, as well as Sovereigns Capital, East Ventures and Fenox VC, which had also participated in Bridestory’s seed round.

The fresh capital gave it the firepower to embark on an international expansion, which saw it roll out operations in the Philippines, Singapore and Australia later in the same year.

Bridestory and Parentstory are understood to be two of several companies Tokopedia has been in talks with for potential acquisition or investment as the e-commerce firm looks to expand into new segments. We have previously reported about Tokopedia’s discussions with agritech startup Sayurbox and used phone e-tailer Laku6.

Commenting on Tokopedia’s vision ahead, Tanuwijaya said: “As a technology company, in the first ten years, Tokopedia has been dedicated to helping business owners become e-commerce based businesses. For the next ten years, Tokopedia strives to help every business in Indonesia evolve into technology-based businesses.”

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. 
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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.