Have you ever received US$1.1 billion on your birthday? I, alas, have not. But that’s what Tokopedia, an Indonesian shopping startup, pocketed earlier this week on the occasion of its 8th anniversary. Alibaba, China’s US$420 billion tech giant, led the funding.
Ecommerce is fairly new to Indonesia and its 260 million inhabitants, but it’s now taking off big-time, spurring strong competition in the nascent tech industry. Indonesia’s online shoppers spent US$5.3 billion last year – and that’ll rocket to US$130 billion by 2020.
Here’s our quick guide to Tokopedia:
Illustrations by Tech in Asia’s Andre Gunawan.
More on Tokopedia:
- Winners and losers in Amazon’s entry into Southeast Asia
- Tokopedia reaches 1m merchants
- Tokopedia CEO: choose which battles to lose so you can win
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