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Indonesia's Leading Online Marketplace Tokopedia Snaps $100 Million Funding Led by SoftBank Internet

Indonesia's Leading Online Marketplace Tokopedia Snaps $100 Million Funding Led by SoftBank Internet Image Credit: PCC Mobile Broadband
Tokopedia, Indonesia’s leading online marketplace, has clinched a whooping 100 million capital funding led by SoftBank Internet and Media (SIMI). The funding round also participated by Sequoia Capital and other existing shareholder SB Pan Asia Fund. 
Founded in 2009, Tokopedia will focus on customer acquisition, hiring, and other initiatives to further strengthen its position as the No. 1 marketplace destination in Indonesia, according to Softbank. This investment is expected to close in mid-December 2014, subject to certain conditions.
By partnering with Tokopedia, SoftBank aims to further build its presence towards becoming the No. 1 Internet company in Asia and accelerate business growth by leveraging synergies with its other group Internet companies.

William Tanuwijaya, CEO of Tokopedia
I’m very excited to welcome SIMI and Sequoia Capital as our new shareholders. I look forward to learning from them and taking Tokopedia to the next level. With this new round, Tokopedia will have enough resources to form the best team, develop world class technology to help our merchants and bring the best commerce experience to our users. We will always prioritize our users, and focus on making our users more successful. And for us that is the most important part of our business model.

Nikesh Arora, Vice Chairman of SoftBank and CEO of SIMI
We are very pleased to be working closely with Tokopedia. In the Asia region, the growth potential for online marketplaces particularly stands out in Indonesia, and since their founding, Tokopedia has seen remarkable growth with their innovative business model. Leveraging synergies with our network of Internet businesses, we are confident we can help Tokopedia’s success in the Indonesian market.

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Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

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