Indonesia’s unicorn startups (valued at over $1 billion) are being targeted by US technology giants. This big startup received an injection of fresh funds even though the Covid-19 pandemic has not shown any signs of weakening.
Google investing in Tokopedia
The first comes from Google. Google has injected a number of funds into e-Commerce, Tokopedia . There was no mention of the amount of the injection of funds but the Nikkei Asian Review reported that Google will control 1.6% stake.
“We are happy to welcome Temasek and Google as Tokopedia shareholders. We are honored for their trust and support for Tokopedia and Indonesia,” written by CEO Tokopedia, William Tanuwijaya through his personal Instagram account on Monday (16/11/2020).
Microsoft is investing in Bukalapak
Another US tech giant that has injected Indonesia’s unicorn startup is Microsoft. The company has injected some funds into Bukalapak. Bloomberg News reports the amount of the fund is $200 million.
Microsoft did not confirm the amount of this fund. But “Microsoft will make a strategic investment in Bukalapak,” said Microsoft Indonesia in an official statement, earlier this month.
In mid-June, Gojek announced that it had received an injection of funds from Facebook and PayPal with an undisclosed figure. Both of them injected funds into Gojek along with Google and Tencent.
The joining of Facebook and PayPal as investors, following Google and Tencent, supports Gojek in its mission of driving the growth of the digital economy in Southeast Asia, with a focus on payment and financial services.
Additionally, according to CB Insights calculations, currently Gojek has a valuation $10 billion, Tokopedia $7 billion and Bukalapak $2.5 billion.