JD in talks to invest in Tokopedia
SINGAPORE: JD.com Inc, Alibaba’s fiercest rival in Chinese e-commerce, is in talks to make a major investment in Indonesia’s PT Tokopedia to speed its expansion into Southeast Asia’s largest economy, said people familiar with the matter.
JD was in early-stage negotiations to invest hundreds of millions of dollars in one of Indonesia’s largest online marketplaces, said the people.
JD’s potential investment might propel Jakarta-based Tokopedia past US$1 billion (RM4.33 billion) in valuation, said another person.
A successful deal with Tokopedia will take JD’s competition