A lot of companies have been trying to break open Indonesia’s e-commerce sector, with varying degrees of success. But online shopping service Tokopedia just got a huge vote of confidence from investors SoftBank Internet and Media and Sequoia Capital, who are going to pour $100 million into the service in the hopes that it will be the one that finally conquers the archipelago’s wallets.
In a press release regarding the investment, William Tanuwijaya, CEO of Tokopedia said, “I’m very excited to welcome SIMI and Sequoia Capital as our new shareholders. I look forward to learning from them and taking Tokopedia to the next level.“
Softbank is a Japanese-held consortium aiming to become the number one internet company in Asia, while Sequoia Capital is a US-based venture capital firm that has worked with titans such as Apple, Oracle and Cisco in the past. Their investment in Tokopedia, which was started in 2009, is a sign that Indonesia’s e-commerce sector is developed enough to attract major funding from key industry players.
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