In brief: Tokopedia said to raise $1b from SoftBank, others

Tokopedia, Indonesia’s largest online marketplace, is raising US$1 billion from existing investors including SoftBank, people familiar with the matter said.

The ecommerce operator is valued at about US$7 billion after the round, the people said, asking not to be identified as the details are private.

Source: Bloomberg

If the deal is confirmed, it would make Tokopedia Indonesia’s most valuable startup, according to CB Insights.

Tokopedia was Indonesia’s leading ecommerce platform in Q3 2018, followed by Bukalapak, Sea’s Shopee, and Alibaba’s Lazada, according to market researcher iPrice. Sources told Bloomberg that Tokopedia’s gross merchandise value has more than tripled this year.

SoftBank transferred its existing holdings in Tokopedia to its Vision Fund earlier this year.