Tokopedia, Indonesia’s leading C2C marketplace, is valued at more than $20 million

Tokopedia, the popular C2C marketplace in Indonesia founded in 2009, is valued at more than $20 million, CEO William Tanuwijaya revealed this morning at Startup Asia Jakarta 2013.

In his discussion with Tech and Asia founder Willis Wee, Tanuwijaya explained that the company is not yet profitable, and doesn’t take commissions from merchants.

Instead, it earns money primarily through its advertising, (correction: Tokopedia is ad-free, though its currently developing its own ad engine as a future means to earn money) and its hoping that its newly-launched Gold Merchant program, which lets paying vendors subscribe to special administrative services that help facilitate store management, will contribute to its revenue stream. Tanuwijaya says that between five and 10 percent of its vendors have already signed up for the program

The company receives three million visitors to its site each month, according to Tanuwijaya. Last year the company helped move 13.4 million goods on its marketplace.

This is a part of our coverage of Startup Asia Jakarta 2013, our event running on November 21 and 22. For the rest of our Startup Arena pitches, see here. You can follow along on Twitter at @TechinAsia, and on our Facebook page.