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Tokopedia Receives Funding From Netprice

Willis Wee
tokopedia-logo
tokopedia-logo

Last year, Tokopedia received investment from CyberAgent Ventures. And today, we just learned that it has received a new round of investment from Netprice.com, Ltd. Investment details are undisclosed. The investment will also see Teruhide Sato, president and group CEO of Netprice, joining Tokopedia as a board member. Sato has 15 years of experience in e-commerce and also has been angel investing through Open Network Lab. Prior to this round, investors who have backed Tokopedia are PT. Indonusa Dwitama, East Ventures, and CyberAgent Ventures.

When questioned on some of the service’s key metrics, co-founder William Tanuwijaya told us that Tokopedia.com has 16,390 active merchants, more than 800,000 visitors per month, and generated 9.9 Billion IDR (more than US$1 million) worth of transactions in the month of March, 2012. William shared a few more thoughts on the deal:

The main reason why we decided to receive this from Netprice is more [about] Sato-san himself. We’ve met him several times, and I can see that he truly believes in the entrepreneurship and the founder’s energy for company success. He is still a founder/CEO for his own company, and I’ve met with some of his ex-employees and partners who are still in the group but who are also running their own company now, like Taku Takeuchi-san, former CTO of Netprice, who now is the CEO of Brandear.jp; Hiro Maeda-san of Open Network Labs (who still belongs to Netprice Incubation division), Kakiyama-san of Flutterscape, which is a spin-off from the Netprice project; and Nao Ito-san, former head of Netprice president office, and now CEO of Sekaimon.

Those [individuals] are still within the group but are also operating their own company now. It’s more like a collaborative federation instead of corporate empire. Within the group, there’s also Aucfan which is an auction portal. It will be great to learn from different models of e-commerce through this kind of collaborative network.

You can check out more information in the press release below.

Disclosure: Tech in Asia is backed by East Ventures. Please see our ethics statement here.