Google in talks with Temasek to invest in Tokopedia

Monday 6 July 2020 13:12 CET | News

Google and Temasek have started talks regarding a funding round for Indonesia-based ecommerce company Tokopedia.

According to Bloomberg, the funding round is between USD 500 million and USD 1 billion. Moreover, Tokopedia held talks with several US-based BigTechs including Facebook, Microsoft, and Amazon. However, Google and Singapore-based company Temasek have been more active in their negotiations and those talks may conclude in coming weeks.

Although the company encountered financing difficulties in the past due to news of a data theft attempt that may have affected 15 million of its users, the COVID-19 lockdown forced ecommerce platforms like Tokopedia to expand their services and serve the millions of people forced to make their first online purchases.

Besides, Indonesia’s ecommerce market is forecasted to expand from USD 21 billion in 2019 to USD 82 billion by 2025, meaning that local ecommerce companies like Tokopedia might get greater investments from bigger companies in the future.

More: Link

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Keywords: Temasek, Tokopedia, Google, BigTechs including Facebook, Microsoft, Amazon, Indonesia, ecommerce, data theft, COVID-19
Categories: Payments & Commerce
Countries: Indonesia
This article is part of category

Payments & Commerce