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The company didn’t say why it chose a new CEO. Peng’s tenure might have been intended to be temporary from the start.
Tokopedia says its next chapter will see it evolve into an ‘infrastructure-as-a-service’ ecosystem for online and offline commerce.
SoftBank affiliated funds and Alibaba’s Taobao are the biggest backers behind Tokopedia.
After the fresh funding, Tokopedia becomes Indonesia’s most valuable unicorns with a US$7 billion price tag.
Traditional retailer MDS accelerated its digitisation process.
In this capital market crunch, group buying has been exceptionally vibrant.
Shopee, started in 2015 as the e-commerce arm of NYSE-listed Sea Group, has had a phenomenal rise.
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