Alibaba is one of the latest major ecommerce players to be interested in the Indonesian market. Tokopedia has previously raised USD 100 million from SoftBank and Sequoia in 2014 and it counts East Ventures, CyberAgent and Beenos Partners among its early backers.
Indonesia is becoming an attractive region for ecommerce companies. The country has the potential to become one of the largest markets for online retailer. It is estimated that Indonesia’s ecommerce transaction will be worth USD 130 billion by 2020.
JD.com, an Alibaba competitor, is also making significant moves in the region. The online retail company is focusing on partnering with smaller niche ecommerce websites.
Tokopedia, which was founded in 2009, operates a marketplace that allows small retailers and large brands to sell to consumers in Indonesia, which is Southeast Asia’s largest economy.
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