Microsoft to invest in Ant Group-backed Indonesian startup Bukalapak
(Reuters) – Microsoft Corp acknowledged on Tuesday it has linked up with Ant Group-backed Indonesian startup Bukalapak and might invest in the e-commerce platform.
Under the deal, Bukalapak will undertake Microsoft’s cloud platform Azure and provide digital talents teaching for Bukalapak employees and their retailers, Microsoft acknowledged in a weblog https://info.microsoft.com/id-id/2020/11/03/bukalapak-establishes-strategic-partnership-with-microsoft-to-enhance-indonesian-e-commerce submit.
A Bukalapak spokeswoman confirmed the funding, nonetheless declined to specify the amount. Microsoft did not immediately reply to comment.
Bukalapak, which is valued at better than $2.5 billion, could be backed by Singapore sovereign wealth fund GIC Pte Ltd and Indonesian media conglomerate Emtek.
A Bloomberg report earlier acknowledged that Bukalapak’s current backers and Microsoft are investing at a valuation between $2.5 billion and $3 billion.
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