Tokopedia

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PT Tokopedia
Tokopedia.svg
HP
Type of businessPrivate
Type of site
E-commerce
Available inIndonesian
Founded6 February 2009; 11 years ago (2009-02-06)
HeadquartersJakarta, Indonesia
Area servedIndonesia
Founder(s)William Tanuwijaya
Leontinus Alpha Edison
Key peopleWilliam Tanuwijaya
(Co-founder, CEO)
Leontinus Alpha Edison
(Co-founder, COO)
IndustryInternet
ProductsElectronic commerce
ServicesOnline shopping
Employees4,700 (2019)[1]
URLAbout Tokopedia
Tokopedia Marketplace
Alexa rank626 (Global, July 2019)[2]
25 (Indonesia, July 2019)[2]
RegistrationRegistration required to sell

Tokopedia is an Indonesian technology company specializing in e-commerce.[3] It was founded in 2009 by William Tanuwijaya and Leontinus Alpha Edison. It is an Indonesian unicorn along with ride hailing company Gojek, travel service firm Traveloka, e-commerce Bukalapak and fintech company OVO.[4]

In 2019, according to a report by iPrice Group, Tokopedia was the most visited e-commerce website on desktop in Indonesia between July and September with a total of 65,953,400 average monthly visits, securing 25 percent of the total market share.[5]

History[edit]

PT Tokopedia was founded by William Tanuwijaya and Leontinus Alpha Edison on 6 February 2009. The company manages Tokopedia.com, which was publicly launched on 17 August. The founders, who was born and raised in small cities in Indonesia, tried to solve the discrepancy issues in the country. Thus, the company mission is to democratize commerce through technology.[6] Starting with a marketplace business, Tokopedia has now grown into a technology company with marketplace, fintech, payment, logistics, fulfillment and new retail businesses. The company's name comes from combining toko, Indonesian for "shop", with "encyclopedia".[7]

Investments[edit]

PT Tokopedia received initial seed funding from PT Indonusa Dwitama in 2009 of IDR 2.5 billion. In the following years, Tokopedia attracted capital injections from global venture capitals including East Ventures (2010), CyberAgent Ventures (2011), NetPrice (2012), and SoftBank Ventures Korea (2013). In October 2014, Tokopedia managed to make history as the first technology company in Southeast Asia to receive a US$100 million investment (around IDR 1.2 trillion) from Sequoia Capital and SoftBank Internet and Media Inc (SIMI). In April 2016, Tokopedia raised another $147 million.[8] In 2017, Tokopedia received $1.1 billion investment from Chinese e-commerce giant Alibaba.[9] Again in 2018, the company secured $1.1 billion funding round led by Chinese e-commerce giant Alibaba Group Holding and Japan's SoftBank Group[10] putting its valuation to about $7B.[11]

Business products[edit]

Tokopedia's official mascot, named as "Toped".

The marketplace is Tokopedia's best-known product. Tokopedia provides a free C2C business platform for merchants and buyers. The marketplace helps merchants to reach more audience than other channels. There are also official stores for well-known brands to do their B2C business. Through its marketplace products, Tokopedia offers millions of products in 25 categories. As of November 2019, Tokopedia has over 7,000,000 merchants with more than 200 million curated products ranging from food and beverages to beauty and fashion products.[12]

Tokopedia also provides digital products such as credit, BPJS payments, utility payments, telephone payments, credit cards, flight tickets, event tickets, games vouchers, and many more.

In 2016, Tokopedia offered financial technology (FinTech) products. Tokopedia's FinTech products include digital wallets, investments, business capital loans, virtual credit cards, protection products, credit scoring based on data for a loan, and many more. In 2018, Tokopedia launched Mitra Tokopedia application to sell these FinTech products.

In 12 December 2018, Fortune reported that PT Tokopedia had raised another $1.1 billion.[13]

Hacked[edit]

May 2nd, Tokopedia was hacked and 15 million login details was leaked including : Gender, Location, Username, Full Name, Email address, Phone numbers and Hashed password. Tokopedia spokesperson Nuraini Razak confirmed that a breach had taken place and urged users to change their passwords periodically to ensure their safety and security. Few hours later the same hacker went viral under the pseudonym ShinyHunters for having put sale full Tokopedia database this time with 91 million records for $5000. Tokopedia is now working closely with several strategic partners, including the Ministry of Communication and Information Technology RI and National Cyber and Crypto Agency, to conduct a thorough investigation, while enhancing the security system in order to maintain user confidence. [14][15][16][17][18][19]

Transactions[edit]

As of November 2019, Tokopedia claims to have more than 200 million product listings and 35 digital products. It has over 90 million monthly active users and over 7 million merchants on the platform, 86.5% of whom are the first-time entrepreneurs.[20]

Advertising campaigns[edit]

BTS as brand ambassador[edit]

On October 7, 2019, Tokopedia announced that the K-pop group[21] BTS will become their brand ambassador.[22] The campaign produced multiple commercials of BTS members dancing and promoting Tokopedia, while speaking Indonesian.

See also[edit]

References[edit]

  1. ^ "Tokopedia Rangkul Difabel untuk Wujudkan Pemerataan Ekonomi Digital". akurat.co.
  2. ^ a b "Tokopedia.com Site Info". Alexa Internet. Amazon.com. Retrieved 14 July 2019.
  3. ^ "About Tokopedia".
  4. ^ "Ovo confirms unicorn status". Tech in Asia. Retrieved 27 November 2019.
  5. ^ "Tokopedia reigns as most visited local e-commerce site on desktops". The Jakarta Post. 20 October 2019.
  6. ^ "Tokopedia's Story: Get to Know More About Our Journey". Tokopedia About.
  7. ^ "S2 Episode 6: William and Patrick of Tokopedia: from Selling T-Shirts to Driving 1.5% of Indonesia's GDP". Evolving for The Next Billion. 7 November 2019.
  8. ^ Wee, Willis (8 April 2016). "Indonesian marketplace Tokopedia raises $147m". TechInAsia. Retrieved 8 April 2016.
  9. ^ Russell, Jon. "Alibaba leads $1.1B investment in Indonesia-based e-commerce firm Tokopedia". TechCrunch. TechCrunch. Retrieved 2 July 2018.
  10. ^ "Tokopedia Secures $1.1b From Alibaba, SoftBank". Jakarta Globe. Retrieved 16 December 2018.
  11. ^ "Tokopedia raises $1.1b from SoftBank, Alibaba to evolve into infrastructure-as-a-service". TechinAsia. Retrieved 12 December 2018.
  12. ^ "Tokopedia Dips Toes in $1.8b Umrah Market". Jakarta Globe. Retrieved 27 November 2019.
  13. ^ Term Sheet: A Year of Mega-Deals, Fortune
  14. ^ https://www.hackread.com/tokopedia-hacked-login-details-sold-on-dark-web/
  15. ^ https://www.zdnet.com/article/hacker-leaks-15-million-records-from-tokopedia-indonesias-largest-online-store/
  16. ^ https://gadgets.ndtv.com/internet/news/tokopedia-probes-alleged-data-leak-of-91-million-users-2222911
  17. ^ https://www.bleepingcomputer.com/news/security/hacker-sells-91-million-tokopedia-accounts-cracked-passwords-shared/
  18. ^ https://twitter.com/underthebreach/status/1256686160304357382
  19. ^ https://twitter.com/CurhatanRiziek/status/1256698796248973314
  20. ^ "Entering Its Tenth Year, Tokopedia Stays Focused on Indonesia as a Super Ecosystem". Tokopedia. 17 August 2019. Retrieved 27 August 2019.
  21. ^ "These Are The Richest K-Pop Groups Right Now". E! Online. 23 July 2019. Retrieved 13 December 2019.
  22. ^ Chandra, Ekhel (7 October 2019). "BTS Jadi Brand Ambassador Tokopedia". Tokopedia. Retrieved 28 December 2019.

External links[edit]