The “e-Conomy SEA 2019” report by Google, Temasek Holdings Pte, and Bain & Co lists Indonesia as the largest and fastest-growing digital economy in Southeast Asia. The report calculates that the country’s digital economy size has grown fourfold since 2015 to $40 billion in 2019, with an average growth of 49% annually. By 2025, Indonesia’s digital economy size is forecasted to reach $130 billion. It is followed by Vietnam, which has become the second fastest-growing digital economy, growing 38% annually since 2015 and amounting to $12 billion in 2019.
Tokopedia is one of the key players in Indonesia’s digital economy. The company is valued at $7 billion after receiving a $1.1 billion Series G funding round led by its existing investors Softbank and Alibaba in 2018. The business that started as a modest e-commerce site has already expanded beyond a platform for trading goods. William Tanuwijaya, 38, the founder and CEO, even claims that the company is no longer just an e-commerce company, but an ecosystem or a digital city. Besides hosting merchants who sell consumer goods, the platform also caters to financial needs like bill payment, electronic money top-up and investment, entertainment needs like hotel booking and vouchers for events or amusement parks, as well as logistics needs with warehouses for sellers.
This story is from the January 2020 edition of Forbes Indonesia.
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This story is from the January 2020 edition of Forbes Indonesia.
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