Tokopedia’s Two Founders Own Less than 8 Percent of Shares

Tokopedia has reportedly raised $1 billion fresh funding that boosts the company’s valuation to $7 billion. To date, KrAsia obtains the information details, the investment is said to be led by BKPM, regarding shareholders and commissioners of the marketplace founded by William Tanuwijaya and Leontinus Alpha Edison. In a moment, both are said to own less than 8% of its shares.

There is some difference about funding information to the public and in the report. However, the table showed “authority division” of the company.

Of the many investors involved in this investment, Softbank and Alibaba become the two biggest investors. Among all rounds and funds get into Tokopedia’s pocket, Softbank in total (including its affiliations) has more than 38% shares. Alibaba, through Taobao, placed as the second biggest investor with 25%.

The domination of two is way too different compared with Gojek shareholders composition with no parties having more than 10% of its shares.

In the report, William Tanuwijaya, Tokopedia’s Co-Founder and CEO is said to own 5.6% shares, while the Co-Founder and Vice Chairman Leontinus Alpha Edison has 2.3%. In total, they have only 7.9% shares.

Board of commissioners

In addition to both co-founders, William Tanuwijaya and Leontinus Alpha Edison, the other commissioner members of Tokopedia are Eun Woo Lee (SoftBank), Lydia Bly Jett (SoftBank), Shailendra Singh (Sequoia Capital India), Wong Ka Kit, dan Joseph Tsai (Co-Founder dan Vice Chairman Alibaba Group).

The board is led by Kabir Misra, previously worked as Managing Partner of Softbank Capital. This year, even though he left Softbank Capital and build his own startup fund — worth of $250 million, Misra is said to continue his role as Tokopedia’s Head of Commissioner.

Tokopedia is one of nine unicorns receiving the largest funding in Southeast Asia, according to reports published by Google and Temasek this year.

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Original article is in Indonesian, translated by Kristin Siagian

Application Information Will Show Up Herecom.tokopedia.tkpd

Emtek Group Pours 59 Billion Rupiah to Qareer Group Asia

Emtek Group, in the financial report for Q3 2018, announced KMK entrance to Qareer Group Asia with 59.632 billion rupiah. The investment is converted to 310,472 shares or 33.5% of the total ownership.

Qareer Group Asia is a company group that covers some services in the job marketplace industry, such as Qerja and Jobs.id. Led by Veronika Linardi, Qerja was previously secured Series A funding from SB ISAT Fund in 2015, while seed fund was received from Kejora Ventures (used to be Mountain SEA Ventures).

The company has been running a business in Indonesia and Malaysia but hasn’t been covered by many media after 2015.

Emtek, in the report, also said it has sold 18.4% shares of the Ice House, a tech consulting company, bought by last year, to the third party.

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Original article is in Indonesian, translated by Kristin Siagian

Etisalat Plans to Sell All Its Shares in XL Axiata?

We learned that UAE telecom company Etisalat plans to sell its entire shares in XL Axiata (EXCL). According to Reuters, Etisalat which has 13.29% ownership in XL will sell its share this year to gain $600 – $700 million.

Its incompatibility with Axiata Group as the majority share holder seems to have led to this decision to sell. If this is true, then this will be the second time Etisalat will have done the same in Asian after selling all of its share in a joint venture in India.

According to an anonymous source, Etisalat was not treated properly by the new management of Axiata Group, based in Malaysia. Over the last few years, it seems that they haven’t found a way to cooperate amicably. Etisalat bought the shares in 2007 which was worth $440 million. This means that within five years of investment in XL, Etisalat would reap about 40-60% profit.

Continue reading Etisalat Plans to Sell All Its Shares in XL Axiata?