Deals
SoftBank Vision Fund, Alibaba Lead $1.1 Billion Tokopedia Round
- Indonesian online mall is said to be valued at over $7 billion
- It will use the capital to expand well beyond e-commerce
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SoftBank Vision Fund and Alibaba Group Holding Ltd. led a $1.1 billion investment in PT Tokopedia, a financing round that will help Indonesia’s biggest online marketplace venture beyond e-commerce into new areas such as air tickets and insurance.
The company was valued at more than $7 billion after the funding, according to people familiar with the matter, who asked not to be identified as the information is private. That would put it at the top of CB Insights’ ranking of Indonesian startups. SoftBank Ventures Korea and other existing backers joined the round, Tokopedia said in a statement without detailing its valuation.