Tokopedia, an Indonesian based startup, announced its new round of investment from netprice.com. The President and group CEO of netprice.com, Teruhide Sato will also join Tokopedia’s board.
With more than 16,000 merchants, Tokopedia, an ecommerce platform that allows Indonesian individuals and small-to-mid-sized business owners to start their online stores, closed another round of investment from netprice.com, a Japanese leader in the ecommerce industry. Prior to this investment, Tokopedia had also previously received funding from PT. Indonusa Dwitama, East Ventures, and Cyber Agent Ventures.
For a better idea of what Tokopedia is, you can think of it as eBay for Indonesia. With this fund injection, Tokopedia says in the press release that they will continue to maintain their rapid growth, as well as to accelerate and expand their business. Other than that, Teruhide Sato, President and Group CEO of netprice.com, Ltd. will also join Tokopedia’s board, while both co-founders of Tokopedia, Leontinus Alpha Edison and William Tanuwijaya, will continue to lead and maintain the full operational responsibilities of Tokopedia.
“netprice sees strong potential in Indonesia’s e-commerce industry, and we want to create a strong base of e-commerce business in Indonesia through this investment,” stated Teruhide Sato whom has been in the e-commerce industry for 15 years. Besides his passion for e-commerce, Teruhide Sato is also active in angel investment and incubation projects around the world with his involvement in Open Network Lab.
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