SoftBank didn’t immediately respond to a request for comment. “It has made undoubted advances in scale and the fact that it is getting new and large funding suggests that some major investors see it as one of the potential leaders in future consolidated market.'Ī Tokopedia representative declined to comment. “Tokopedia has emerged as a major force in recent times,' said Usman Akhtar, a Jakarta-based partner at Bain & Co. is expanding its Lazada business in Southeast Asia, while PT is signing up hundreds of thousands of neighbourhood stores as partners and Singapore’s Sea Ltd is investing heavily to expand its e-commerce business. Indonesia’s internet economy is the largest and fastest growing in Southeast Asia with e-commerce poised to be worth $53 billion by 2025, according to a recent report by Google and Temasek Holdings Pte.Ī cashed-up Tokopedia, which was founded in 2009, will present more formidable competition for its rivals. William Tanuwijaya, the 37-year-old son of a factory worker, co-founded the company and has capitalized on the country’s rapid adoption of smartphones and increasing comfort in shopping online. or its Vision Fund, the Tokyo-based company transferred prior holdings in Tokopedia to the fund earlier this year. While it wasn’t clear if the backing comes from SoftBank Group Corp. Support quality journalism and subscribe to Business Standard.That would top the valuations for startups in Indonesia, according to the research firm CB Insights.

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