Tokopedia bags Google and Temasek as its significant investors

More From Author

See more articles

India CEOs Dominating Global Companies: From Microsoft to Chanel...

India-origin executives are redefining global leadership, with 226 leaders of Indian origin now heading the world's most...

Full Form IT in 2025: What are the best...

Full Form IT: The Best Guide IT stands for information technology in its entire form. Computers are utilised...

Full Form of ITI: What does it mean in...

Full Form of ITI: Here's everything to know about ITI Full Form of ITI: ITI is an abbreviation...

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