Tokopedia acquires Indonesian firms Bridestory, Parentstory

Indonesian ecommerce giant Tokopedia has acquired local wedding services marketplace Bridestory and child activities marketplace Parentstory.

Photo credit: Tokopedia

The acquisition covers all assets of Bridestory and Parentstory, including physical and digital assets, intellectual property, and human resources. Tokopedia specified that the acquisition will not change the business strategy of Bridestory and Parentstory, as the companies will still continue to develop their products on their own.

The deal allows the Jakarta-based unicorn to expand to new market segments. At the same time, Bridestory and Parentstory will be able to use Tokopedia’s platform and ecosystem to further extend their reach.

The deal valued Bridestory at US$30 million to US$35 million.

The acquisition was hinted at earlier this year, with a source familiar with the matter confirming to Tech in Asia that Tokepedia was in talks to acquire Bridestory.

Established in 2014, the wedding marketplace claims to have connected more than 3.5 million customers to over 20,000 wedding vendors annually. Parentstory is Bridestory’s most recent initiative launched in October 2018.