Bukalapak Valuation Grows Post Microsoft Investment Deal
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17 November 2020 20:39 WIB
TEMPO.CO, Jakarta - Microsoft has inked a partnership with e-commerce Bukalapak by injecting a US$100 million investment deal, elevating the Indonesian e-commerce’s valuation to $2.5-3 billion. It added to the investments from the Jack Ma-affiliated Ant Group, GIC Pte, up to Emtek Group.
Citing an interview from bisnis.com, Bukalapak CEO Rachmat Kaimuddin on Tuesday, November 17, said the fresh investment will be used to establish a stronger digital infrastructure for the platform in the form of cloud computing.
“Bukalapak will adopt Microsoft Azure as its cloud platform of choice to further support more than 6 million online traders and over 100 million customers,” said Kaimuddin to Bisnis.com.
He elaborated that the funds would be used to bridge digital disparities as well as finding new opportunities to make the digital world relevant to more people each day in the future. The company also plans to improve the digital skills of its manpower and traders.
“Bukalapak and their services have had a real and enduring impact on Indonesian society, and their innovation mindset in a rapidly changing market will create new opportunities for merchants, businesses, and consumers,” said Haris Izmee, President Director of Microsoft Indonesia.
Read: E-commerce Association Reports Transactions Growth amid the Pandemic
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