Tokopedia bags Google and Temasek as its significant investors

More From Author

See more articles

Myntra Upcoming Sales 2025: Your Fashion Calendar for Maximum...

Myntra Upcoming Sales 2025 In the ever-evolving world of fashion e-commerce, Myntra continues to be India's go-to destination...

Dimensity 6020 vs Snapdragon 695: Mid-Range Chipset Battle

Dimensity 6020 vs Snapdragon 695: Qualcomm Snapdragon 695 5G (SD695) is a fast mid-range ARM-based SoC found...

My Jio Recharge Plans as of January 4,...

My Jio Recharge Plans: Since its establishment in 2016, Reliance Jio has made a remarkable impact on...

The current raging pandemic has forced several business outlets to revamp their business strategies. With most of the retail business moving online, it seems that the Covid-19 had an extraordinary effect on how companies sell their products.

Retailers going online is nothing new, but when an already established and long-time offline retail center wants to go online, it requires some big-time investors’ backing. Such is the case with Indonesian mall Tokopedia.

It is reported that the firm has bagged itself a total of about US$350 million investment. The funding agreement will soon receive the green signal, and it is estimated to help the company expand its online mall market globally.

Tokopedia’s online marketplace is backed by the SoftBank Group and rose to prominence in the Asian market during the pandemic. The backing of Google and Temasek for the e-commerce business is an excellent deal for expanding its business.

Google and Temasek’s move is not surprising as more of America’s largest corporations try to establish their influence in the growing Asian market. Facebook is reportedly buying a stake in India’s Jio platform, while WhatsApp talks with Gojek to struck a deal for its digital payment service called GoPay.

It is worth remembering that Tokopedia is Indonesia’s second most valuable startup after Gojek. With Google and Temasek investing in, it could mean a huge deal for the American giants.

E-commerce platforms like Tokopedia were the first services to help people purchase goods online amidst the pandemic raging strong. The retailers have offered assistance to expand their business and aid customers stranded during widespread lockdowns.

Asia has become a key market for e-commerce, with American investors looking to get a piece of this pie; the battleground will heat up even more.

source

Do check out:

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

━ Related News

Featured

━ Latest News

Featured