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November 17, 2020, 05.56 PM

JAKARTA, KOMPAS.comUS Big Tech company Google and Singapore state investor Temasek have officially become shareholders in Tokopedia, Indonesia’s largest e-commerce platform.

This was confirmed on Tuesday by Tokopedia’s Chief Executive Officer and Co-Founder William Tanuwijaya in his Instagram account. William welcomed the two companies as part of Tokopedia but did not elaborate on how much capital injections his company received.

“We are pleased to welcome Temasek and Google as Tokopedia shareholders. We are honored and grateful for their trust and support to Tokopedia and Indonesia,” wrote William in his Instagram account on November 17.

Also readIndonesia’s Tokopedia User Data Hacked, Sold, and Shared on Facebook

William said that the collaboration will be able to support Tokopedia to become a strong and sustainable company.

“This will accelerate digital transformation and bring economic equality through technology in Indonesia,” said William.

It was previously reported that Google and Temasek’s investment in Tokopedia came after Microsoft Corp. injected their funds into Indonesian startup Bukalapak.

With this capital injection, Google now has 1.6 percent of Tokopedia’s shares. Meanwhile, Temasek via its unit Anderson Investments owns a 3.3 percent stake. This data is obtained from documents submitted to Indonesia’s Ministry of Law and Human Rights dated November 4, 2020.

Also read: Indonesias Digital Economy Potential Hinges on Equal Internet Access

Shares owned by Google and Anderson Investments in Tokopedia are worth 16.7 billion rupiahs ($1.1 million) and 33.4 billion rupiahs ($2.3 million), respectively.

However, the amount does not reflect how much funds the two companies have injected as the investment will come in several stages. Google and Temasek could increase their shares in the Indonesian e-commerce unicorn Tokopedia.

(Writer: Fika Nurul Ulya | Editor: Erlangga Djumena)


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