Alibaba Won Against & Now Leads a $1.1b Round in Indonesia’s Tokopedia

Alibaba Won Against & Now Leads a $1.1b Round in Indonesia's Tokopedia

And another one on the Alibaba vs. front. As we expected, Alibaba won against in their fight about which of the two fierce Chinese competitors will be investing in Tokopedia.

A valuation for the deal was not announced, but the companies did say that Alibaba has become a minority shareholder. […]

The company previously raised $100 million from SoftBank and Sequoia in 2014, and it counts East Ventures, CyberAgent and Beenos Partners among its early backers. Tokopedia said a number of undisclosed existing investors also took part in this newest round.

​There is much at stake in Southeast Asia:

A recent report co-authored by Google predicted that annual e-commerce spend in the region will jump from $5.5 billion in 2015 to $88 billion in 2025. It estimated that half of that revenue will come from Indonesia, which is the world’s fourth largest country.

China Money Network on Alibaba‘s prospects for the region, which includes Lazada:

Alibaba has become a minority shareholder in Tokopedia, but the companies did not disclose the valuation for the investment in an announcement.

Hangzhou-based Alibaba already controls the largest e-commerce platform in Southeast Asia, Lazada, which also holds a dominant position in Indonesia. Around 20% of surveyed users in Indonesia say they shop most frequently Lazada, with around 18% and 17% say they shop most frequently from Elevania and Tokopedia, respectively. […]

It is likely that Alibaba may increase its interests in Tokopedia gradually in the future, as it did with Lazada. Once Alibaba controls Tokopedia, the Chinese e-commerce giant will become the absolute leader in the online shopping business across Asia and truly become an Asian e-commerce giant.

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