Alibaba has invested in Indonesia’s largest e-commerce platform, Tokopedia, as the ecommerce giant continues to expand its presence in Southeast Asia.
The Chinese ecommerce company has led a $1.1 billion investment in Tokopedia, which is often referred to as Indonesia’s Taobao and is one of the most visited websites in Indonesia.
The investment gives Alibaba a minor stake in Tokopedia, and is the latest move in the company’s international expansion.
Alibaba already holds a majority stake (83%) of Singapore-based ecommerce company Lazada, giving the company access to key markets in Southeast Asia.
Alibaba has also launched Read full story ›
Source: The Drum
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