Indonesia: Tokopedia raises $147m in follow-on funding round

William Tanuwijaya Photographer: Dimas Ardian/Bloomberg

Indonesia’s leading e-commerce marketplace Tokopedia has raised $147 million in fresh round of funding from undisclosed investors, according to several reports.

With the new deal, Tokopedia’s total disclosed funding is expected to reach $247 million.

It is not clear yet as to what the funding will be used for. Chief Executive Officer William Tanuwijaya could not be reached for comments.

In 2014, the company received $100 million — largest ever for an Indonesian startup — from Japan’s SoftBank Corp and Sequoia Capital.

That announcement caught the attention of the country’s mainstream media, which had largely ignored the tepid growth story of startups in the past.

Tokopedia was founded by Tanuwijaya, the son of a factory worker, during an internet boom in Southeast Asia’s largest economy in 2009.

The company now has more than 7.5 million transactions per month with a 10-20 per cent monthly growth rate. About 69 per cent users access the company’s site using mobile phones. But the vast majority of transactions still happen through the desktop version of the site. 

A report by CB Insights said Tokopedia’s valuation is estimated to be around $1 billion, making it one of only four unicorns — startups with a valuation of at least $1 billion — in the region. Two of them are in Singapore and one in Thailand.

Most of the Asian unicorns are based out of China, which has 18 of them, followed by India with nine. 

SimilarWeb ranks Tokopedia the eighth most popular website in Indonesia, beating Twitter and Wikipedia. App Annie named Tokopedia top shopping Android app based on its monthly active user count in February 2016. It is also the most visited local site in Indonesia.

Also Read:

How Tanuwijaya proved his doubters wrong to build Indonesia’s Alibaba. Tokopedia set to become nation’s first Unicorn

US e-commerce giant eBay plans to open office in Indonesia

Indonesia: Matahari subscribes to rights option for MatahariMall.com; Graha Layar Prima to raise $62m

 

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.