One of Indonesia’s largest e-commerce platforms has secured a major investment from Alibaba, making the Chinese e-commerce empire a minor shareholder in Tokopedia.
Tokopedia announced the new stakeholders during its eighth anniversary celebrations. One name stood out among the others – China’s e-commerce giant, Alibaba.
“We’ve selected a world-class investor who can raise Tokopedia’s profile in the world stage,” Tokopedia Chief Executive and Co-Founder William Tanuwijaya said, as reported by the Jakarta Globe.
Tokopedia’s stated goal of building a global marketplace coincides with Alibaba’s plans of expanding into the Southeast Asia, making the two e-commerce sites a perfect match. Tanuwijaya also said the partnership will help improve Tokopedia’s quality of service.
Tanuwijaya hopes Alibaba, founded by Jack Ma, can give Tokopedia the guidance it requires to make it to the global stage.
“One of Tokopedia’s major cultures is to have the sincerity to share as a teacher and the curiosity to learn as a student. We always assume that Alibaba is our teacher and role model,” he said.
The Chinese e-commerce empire has always been interested in the Southeast Asian market. In June, the company completed its investment process with Lazada – another local major e-commerce – worth $2 billion.