Page 29 - Forbes - Asia (March 2020)

More than
TOKOPEDIA’S IMPACT IN

Aceh JOBS CREATION AND East Kalimantan 90 mil
0.26 REGIONAL ECONOMY 0.93 Monthly active users

(ALL FIGURES IN TRILLION RUPIAH) More than

North Sulawesi 5 mil 27
0.16
Sellers TE
DKI Jakarta
207,117 CHNOL
16.42

North Sumatra OG
Y
21,746
2.79 Bali
25,699 South Sulawesi
0.82 7,194

West Java
172,348
11.36 East Java West Nusa New Jobs
112,488 Tenggara Regional
SOURCE: LPEM FEB UI 3,001 Economy

Many others followed, not only Alibaba, but guarantee that all goods sold through this chan-
also India’s Sequoia Capital and SoftBank Vi- nel will be 100% genuine. The charge for this ser-
sion Fund. One goal eagerly awaited by investors: 96% vice is a hefty 15% sales commission, but in re-
profits. “We are confident it will get to break- turn merchants get dedicated help from Tokope-
even and profits,” says Shailendra Singh, manag- dia and other special services. The Official Store
ing director of Sequoia Capital India, in the “next has signed up 3,000 sellers, and has been par-
few years.” Tokopedia sellers ticularly popular with large multinationals that
To get into the black, Tokopedia has been build- are located in must protect their brands, such as King Koil,
96% of cities
ing its paid services. While the basic service is in Indonesia Procter & Gamble and Samsung.
free—any seller can register to sell over the site by As Tokopedia enters its second decade, Tanu-
submitting just an email address and cell phone wijaya offers his outlook on how Tokopedia
number—the company has offered paid premium should evolve. “In the next 10 years, we want to
services since 2013. For a fee, these merchants get be a technology company that can help anyone
perks such as promotions, free shipping and mar- who wants to be a technology company,” Tanu-
ket research done by Tokopedia. One tier of mem- wijaya says. “All businesses in Indonesia will be
bership, Power Merchants, pay a 1% commission a technology company by having Tokopedia as
on all goods sold over the site. their partner. That’s our vision.”
Another initiative, launched last year, was to
combat the problem of counterfeit goods online. This article has been adapted from Forbes Indo-
Tokopedia launched its Official Store with the nesia, a licensee edition of Forbes Media.

2012 2013 2014 2016 2017 2018

C D E E F G
Undisclosed Undisclosed $100 million $147 million $1.1 billion $1.1 billion
Beenos Softbank Ventures SoftBank Telecom Corp, undisclosed Alibaba Group SoftBank Vision Fund
Partner Korea Sequoia Capital and investor and Alibaba Group
SoftBank Ventures Korea

MAR CH 2020 F ORBES A SIA