Big e-Commerces to Obtain Funding Amid Pandemic
Several large e-commerce will reportedly obtain funding amid the COVID-19 pandemic. Among these companies is Bukalapak, which will complete US$ 100 million in a funding round in the third quarter of 2020. DealStreetAsia reported that Bukalapak would get new investors after, and Alipay injected funds in March 2020. Bukalapak has also received funding from Shinhan GIB and Emtek in a funding series F, which has increased its valuation to US$ 2.5 billion.
Bukalapak's competitor Tokopedia is also reportedly negotiating with Google and Temasek Holdings for a funding round totaling US$ 500 million to US$ 1 billion. Tokopedia is also holding talks with US giant technology companies like Facebook, Microsoft, and Amazon. A source quoted by Bloomberg said the talks would continue until August 2020.