Google and Temasek’s backing is a vote of confidence for Tokopedia, considered one of Indonesia’s biggest e-commerce operators. — AFP
Google and Temasek Holdings Pte have agreed to invest about US$350mil (RM1.45bil) in PT Tokopedia, people familiar with the matter said, a major cash infusion that will bankroll the Indonesian online mall’s post-Covid-19 expansion.
The Alphabet Inc unit and Singapore’s state investment firm could sign an agreement for the funding soon, the people said, asking not to be identified discussing the deal before it’s formally concluded. The financing falls short of the initial goal of between US$500mil (RM2.08bil) to US$1bil (RM4.16bil) that Bloomberg News reported in July, though Tokopedia may still be looking for more investors.
Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.
