One of Indonesia's largest e-commerce companies, Tokopedia, announced it has secured US$1.1 billion in funding, equivalent to Rp 14.6 trillion, from Alibaba Group. This is the largest funding injection for an e-commerce company in Indonesia and the ninth round of funding for the marketplace founded by William Tanuwijaya in 2009.
Tokopedia previously received seed funding twice, in January and February 2009, with undisclosed amounts. It then received Series A funding from East Ventures in 2010, followed by Series B funding from CyberAgent Ventures in 2011. Subsequently, Tokopedia received Series C funding from SBI Investment and Beenos (nerprice.com), and in June 2013, Series D funding from SoftBank Capital and others. All of these funding rounds were publicly disclosed.
Then, in October 2014, William Tanuwijaya's e-commerce company received Series D funding of US$100 million, and in April 2017, it received Series F funding of US$147 million. In total, the publicly disclosed funding received by Tokopedia amounts to US$1.35 billion. For context, Alibaba Group previously acquired another Indonesian online retailer, Lazada, for US$1 billion in April 2016.