Google invests in successful Indonesian platform Tokopedia
A new article on Search Engine Journal reveals that Google is investing in Tokopedia, an online Indonesian marketplace.
The amount of money that Google is investing here totals $350 million. In terms of statistics, Tokopedia is already looking very healthy, indeed, boasting seven million vendors that sell to over ninety buyers each and every month - which is hugely impressive. Google is not the first investor to lay its eyes on this online shopping platform either; Alibaba and Softbank already got involved and invested sizable amounts. Google is a household name, so it likely adds extra value on top of the already substantial $350 million investment.
Google's reason for getting involvedis likely due to how popular eCommerce has become in recent years (even more so with the outbreak of Covid-19). In fact, by 2022, eCommerce is forecasted to become a $65 billion dollar industry. This rather out of character investment could also indicate Google's future direction, possibly hinting at further expansion into the E-commerce sector, a move that could prove very lucrative indeed.
In terms of services, Tokopedia offers its customers a wide range of financial products. These include but are not limited to; investments, digital wallets, loans, virtual credit cards, and more.
What's next?
At this time, Google hasn't revealed any other information about their investment, including where they ultimately want to take things. One thing is certain however, Google hopping on Tokopedia's investment train is going to be beneficial for the company. Tokopedia is already a major source of income for Indonesia, contributing to over 1% of the country's economic development.
Let's see how Google's investment turns out for Tokopedia and if the search engine giant will continue to expand into the eCommerce sector.
The amount of money that Google is investing here totals $350 million. In terms of statistics, Tokopedia is already looking very healthy, indeed, boasting seven million vendors that sell to over ninety buyers each and every month - which is hugely impressive. Google is not the first investor to lay its eyes on this online shopping platform either; Alibaba and Softbank already got involved and invested sizable amounts. Google is a household name, so it likely adds extra value on top of the already substantial $350 million investment.
Google's reason for getting involvedis likely due to how popular eCommerce has become in recent years (even more so with the outbreak of Covid-19). In fact, by 2022, eCommerce is forecasted to become a $65 billion dollar industry. This rather out of character investment could also indicate Google's future direction, possibly hinting at further expansion into the E-commerce sector, a move that could prove very lucrative indeed.
In terms of services, Tokopedia offers its customers a wide range of financial products. These include but are not limited to; investments, digital wallets, loans, virtual credit cards, and more.
What's next?
At this time, Google hasn't revealed any other information about their investment, including where they ultimately want to take things. One thing is certain however, Google hopping on Tokopedia's investment train is going to be beneficial for the company. Tokopedia is already a major source of income for Indonesia, contributing to over 1% of the country's economic development.
Let's see how Google's investment turns out for Tokopedia and if the search engine giant will continue to expand into the eCommerce sector.
