Tokopedia Acquisition, Valuation, Funding & Investors

Tokopedia was acquired by TikTok for $1.8B in December 2023, a 3.2x multiple on $579M of revenue.

Tokopedia acquisition price

$1.8B

Acquired by TikTok · Dec 2023

Tokopedia revenue at acquisition

$579M

Last twelve months · Dec 2023

Tokopedia revenue multiple at acquisition

3.2x

EV/Revenue · Dec 2023

Cumulative funding Tokopedia raised

$2.8B

across 5 funding rounds

Tokopedia Overview

About Tokopedia

Tokopedia is an Indonesian e-commerce marketplace offering millions of products across categories like electronics, fashion, and groceries. Merchants utilize its seller tools for inventory, promotions, and logistics integration via partnerships with Gojek under the GoTo Group. Jakarta-based and founded in 2009, Tokopedia covers 99 percent of Indonesia's districts with services including Tokopedia Play for video streaming and Shopee rival features.


Founded

2009

HQ

IndonesiaJakarta

Status

Acquired

Customer focus

B2C

Revenue model

Commission

Revenue

$579M (Dec 2023)

Valuation

$7.8B (Nov 2020)

Tokopedia Acquisition

Tokopedia was acquired by TikTok for $1.8B on 11 December 2023.

The acquisition price implies a 3.2x revenue multiple on $579M of revenue.

Before the acquisition Tokopedia had raised $2.8B across 5 funding rounds.

Tokopedia acquisition details
AcquirerDateTypePriceEV/Revenue
  • TikTok
11 Dec 2023Strategic M&A$1.8B3.2x

Tokopedia Valuation

Tokopedia is currently valued at $7.8B, based on its Series H in November 2020.

The $350M round was led by Alphabet and Temasek.

Tokopedia's valuation has grown 1.1x from $7B at its Series G in November 2018 to $7.8B in November 2020, across 2 priced rounds.

Tokopedia valuation by funding round

Tokopedia valuation by funding round
DateStageValuation
Nov 2020Series H$7.8B
Nov 2018Series G$7B

Tokopedia Funding History

Tokopedia has raised a total of $2.8B across 5 funding rounds.

Tokopedia's first fundraising round was a $100M Series E in October 2014. The most recent completed round was a $350M Series H in November 2020.

Tokopedia funding rounds

Tokopedia funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2020Series HAlphabet (lead); Temasek (lead)$350M$7.8BTokopedia, an Indonesian e-commerce unicorn founded in 2009, operated a consumer-to-consumer and business-to-consumer marketplace platform serving over 100 million monthly active users and 9.7 million merchants by December 2020, with more than 350 million product listings across 42 digital categories. The company merged with Gojek in May 2021 to form GoTo Group (PT GoTo Gojek Tokopedia Tbk), one of Southeast Asia's largest digital ecosystems combining e-commerce, ride-hailing, and financial services. GoTo listed on the Indonesia Stock Exchange (IDX:GOTO) in 2022, with recent revenue reaching 15.89T IDR in 2024 and 17.53T IDR TTM as of Q3 2025, alongside ongoing losses indicated by negative EPS and net margins.
Nov 2018Series GAlibaba Group (lead); SoftBank Group (lead); EV Growth$1.1B$7B-
Aug 2017Series EAlibaba Group (lead); SoftBank Group; ZWC Partners; SBVA$1.1B-Tokopedia, an Indonesia-based e-commerce marketplace founded in 2009, raised $1.1 billion in August 2017 led by Alibaba Group, with participation from existing investors including SoftBank. The platform enables small and midsized businesses to set up free online stores and sell across Indonesia. Prior to this, Tokopedia had raised $100 million from SoftBank and Sequoia in 2014, bringing total capital to $1.3 billion post-round. The 2017 investment aimed to enhance scale, offerings, and global expansion for merchants.
Apr 2016Series EPacific Century Group (lead)$147M--
Oct 2014Series ESoftBank Group (lead); SBVA; Peak XV Partners$100M-Tokopedia is an online marketplace founded in 2009 that enables individuals and business owners in Indonesia to open and maintain their online stores easily and for free while providing a safer online shopping experience. The platform connects buyers and sellers through a seamless marketplace model similar to Flipkart, Amazon India, and Alibaba.com. In October 2014, Tokopedia raised approximately $100 million in a Series B round led by SoftBank Internet and Media (SIMI), with participation from Sequoia Capital and existing shareholder SB Pan Asia Fund. The company used the proceeds to focus on customer acquisition, hiring, and other initiatives to strengthen its market position as Indonesia's leading online marketplace. At the time of the investment, both SIMI and Sequoia Capital representatives joined Tokopedia's board of directors. The investment reflected growing investor interest in Southeast Asian e-commerce platforms and SoftBank's strategic goal to become the leading Internet company in Asia.

Who has invested in Tokopedia?

9 investors have backed Tokopedia across its funding rounds, including SoftBank Group, Alibaba Group, SBVA, Peak XV Partners, Temasek and Alphabet.

Lead investors include Alphabet, Temasek, Alibaba Group, SoftBank Group and Pacific Century Group.


Tokopedia Investors

Investors in Tokopedia by funding rounds participated
InvestorHQRoundsRoleFirst check
SoftBank GroupJapanTokyo3LeadOct 2014
SBVASouth KoreaSeoul2ParticipantOct 2014
Alibaba GroupChinaHangzhou2LeadAug 2017
TemasekSingaporeSingapore1LeadNov 2020
ZWC PartnersHong KongHong Kong1ParticipantAug 2017
EV GrowthSingaporeSingapore1ParticipantNov 2018
Pacific Century GroupHong KongHong Kong1LeadApr 2016

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Acquisitions by Tokopedia

Tokopedia has acquired 1 company to date.

Last acquisition by Tokopedia was on September 20th 2019. Tokopedia acquired Bridestory for $33M.


Latest Acquisitions by Tokopedia

Bridestory
Description
Bridestory is a Southeast Asia-based wedding marketplace headquartered in Jakarta, Indonesia, linking engaged couples with professionals in photography, venues, makeup, and catering. Launched in 2013, the platform operates in Indonesia, Singapore, Malaysia, and the Philippines, featuring portfolios from over 20,000 vendors and real wedding stories. Bridestory facilitates bookings, pricing comparisons, and inspiration boards for multicultural celebrations.
HQ CountryIndonesia
HQ City
Jakarta
Deal Date20 Sep 2019
Valuation$33M
EV/Revenue
EV/EBITDA

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Tokopedia Competitors

Tokopedia competitors include listed companies like Ziff Davis and People, and private ones like Whop, Trax, DealShare and Ganji.

Public and private companies comparable to Tokopedia
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
WhopUnited StatesNew York City, NYPrivate$142M-$1.6B11.3x
TraxUnited KingdomLondonPrivate--$2B-
Ziff DavisUnited StatesUnited StatesPublicly listed$1.5B$335M$2B1.0x
DealShareIndiaBangalorePrivate--$1.6B-
GanjiChinaBeijingPrivate--$1.6B-
PeopleUnited StatesUnited StatesPublicly listed$2.4B$122M$2.8B1.6x

Tokopedia Public Comps

Tokopedia is no longer listed, but its public comps include ACV Auctions, Lime, Ziff Davis, GO, TX Group, eFinance, CarTrade Tech, Visional, Liquidity Services and Mony Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
ACV Auctions$760M($19M)2.3x2.1x(89.6x)24.8x
Lime$887M$87M2.2x-22.2x-
Ziff Davis$1.5B$335M0.9x1.0x3.8x3.3x
GO$266M$49M5.4x5.3x29.4x24.7x
TX Group$1.1B$310M2.1x2.1x7.2x8.1x
eFinance$130M$67M11.8x-22.8x-
CarTrade Tech$81M$33M17.5x15.6x43.2x43.8x
Visional$515M$157M3.3x2.6x10.8x9.3x

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Common questions about Tokopedia

When was Tokopedia founded?Tokopedia was founded in 2009.
Where is Tokopedia headquartered?Tokopedia is headquartered in Jakarta, Indonesia.
Is Tokopedia publicly listed?No, Tokopedia was acquired by TikTok in December 2023.
Who acquired Tokopedia?Tokopedia was acquired by TikTok in December 2023.
How much was Tokopedia acquired for?Tokopedia was acquired for $1.8B in December 2023, a 3.2x revenue multiple.
What is Tokopedia's valuation?Tokopedia was last valued at $7.8B in its Series H in November 2020.
How much funding has Tokopedia raised?Tokopedia has raised $2.8B across 5 funding rounds.
What was Tokopedia's last funding round?Tokopedia's last funding round was a $350M Series H in November 2020, led by Alphabet and Temasek.
Who are Tokopedia's investors?Tokopedia's investors include SoftBank Group, SBVA, Alibaba Group, Temasek, ZWC Partners, EV Growth, Pacific Century Group, Peak XV Partners and Alphabet.
Which companies are comparable to Tokopedia?Companies comparable to Tokopedia include Whop, Trax, Ziff Davis, DealShare, Ganji and People.
How many companies has Tokopedia acquired?Tokopedia has acquired 1 company, including Bridestory.
What was the largest acquisition by Tokopedia?The $33M acquisition of Bridestory in September 2019 is the largest acquisition Tokopedia has made to date.

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