Singapore, Japan Investing in Local Website

VIVAnews - Tokopedia announced that East Ventures, a Singapore-based company that focuses on investments in Internet businesses, has invested in Tokopedia.

In early 2009, Tokopedia has acquired seed funding from PT Indonusa Dwitama for the launch of tokopedia.com in August 2009.

“We consider the new investment from East Ventures a strategic alliance to bring Tokopedia to the next level,” Tokopedia co-founder, William Tanuwijaya says in a written statement on March 25.

“During the past seven months, tokopedia.com has become a startup with a rapid growth, and we’re expecting this new alliance to enable Tokopedia achieving greater achievements”.

Tokopedia.com has become one of the most fast-growing online marketplaces in Indonesia in terms of number of members, active online stores, products, transactions and daily cash flow.

In a relatively short time, tokopedia.com has also been known as a trusted online marketplace in Indonesia.

Following the investment, Tokopedia co-founders Leontinus Alpha Edison and William Tanuwijaya will still be leading and fully responsible for Tokopedia’s operational activities. East Ventures will assign its officials to fill in the board of directors and commissioners of Tokopedia together with Victor Fungkong and Yohana Fran from PT Indonusa Dwitama.

Batara Eto, a partner from East Ventures added, “As an investor in the early stage of startup, we’re looking at tremendous internet market in Indonesia. We believe that the Tokopedia team has visions and execution abilities to be a leading player in the business”.

Another partner, Taiga Matsuyama will also serve as strategic advisor in Tokopedia.

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Translated by: Nataya Ermanti