Indonesian e-commerce giant Tokopedia raises $1.1 bn funding

Indonesia’s largest online marketplace Tokopedia on Wednesday announced it had secured $1.1 billion in a funding round led by SoftBank Vision Fund and Alibaba Group. SoftBank Ventures Korea and other existing investors also participated in the deal that reportedly valued Tokopedia at $7 billion. William Tanuwijaya, the 37-year-old son of a factory worker, co-founded Tokopedia in 2009.