The target is that the GoTo Group contributes more than 2 percent to Indonesia’s total GDP. Regarding the merger of Gojek and Tokopedia, Patrick Cao said that the combination of the two companies’ business models will be able to expand the types of services to the public. He is responsible for mergers and acquisition activities as well as capital market advisory in the consumer and industrial sectors.
Previously, he also served as Executive Director at UBS Investment Bank. In the venture capital firm, he is responsible for investing in technology companies based in Asia. Prior to joining Tokopedia, Patrick served as a Principal at Formation 8, a venture capital company from the United States that was founded in 2011. Patrick Cao is a graduate of the Master of Business Administration (MBA) at Tsinghuha University and earned a bachelor’s degree or Bachelor of Science in Business Administration at Carnegie Mellon University.Īlso read: Form the GoTo Group, This is the Word of the Boss of Gojek and Tokopedia Tokopedia says it was founded in 2009.See also Boy Thohir Wants to Annex Trimegah, Maybe GoTo Synergy? The document doesn’t include a founding date for this legal entity. There’s a deviation in the number of rounds, which might be because this isn’t Tokopedia’s first legal entity and that this one was formed when foreign investors were starting to come in. It’s likely that the legal entities here are formed to meet the minimum requirements for paid-up capital, several investors told KrAsia. That said, this cap table gives a rough sense of the power structure within the company. The document filed with Indonesia’s foreign investment coordinating board does not match the public record of Tokopedia’s fundraising, but that shouldn’t come as a surprise. Over at Go-Jek, co-founder and CEO Nadiem Makarim is both chairman of the BOD and BOC.ĭeviation from public fundraising records The board of commissioners is headed by Kabir Misra, who was a managing partner at SoftBank Capital, but departed to start his own fund not long ago.
Shailendra Singh, of Sequoia Capital India.They are in the company of some illustrious names. Tanuwijaya is chairman of the board of directors, with co-founder Alpha Edison as vice chairman. Here’s a link to help understand the difference between directors and commissioners and what roles they are playing in an Indonesian company. In accordance with Indonesian law, and similar to the structure of PT Karya Anak Bangsa (Go-Jek’s main legal entity in Indonesia) we shared recently, Tokopedia has a board of directors (BOD) and a board of commissioners (BOC), which has some duties like overseeing the compensation and conduct of the directors. We could not identify a link to any of the other shareholders, but according to investors who spoke to us on background about this cap table, it likely represents someone who holds a board seat, which we’ll get to next. SoftBank has further stakes through other funds as well, amounting to at least another 8.8% of the total issued shares.Īlibaba comes in via Taobao China Holdings, with shares acquired amounting to 25% of issued shares.Īnother huge chunk comes from Radiant Pioneer Limited and Radiant Trinity Limited, both registered to the same Cayman Islands address. SVF Investment Limited (associated with SoftBank’s Vision Fund), has the largest individual percentage at 29%. Here’s an overview of the data with our percentage calculation for selected major shareholders (highlighted with colors).Ĭo-founders William Tanuwijaya (CEO) and Lenotinus Alpha Edison (vice chairman) hold roughly 5.6% and 2.3% of the total shares issued, respectively. Source: Indonesia Foreign Investment Coordinating Board (BKPM)Įarly investors include East Ventures and Beenos, but the bulk of investment comes from a number of SoftBank-related funds (almost 40%) and Alibaba (around 25%), who invests into PT Tokopedia through Taobao China Holdings. The document lists PT Tokopedia as a foreign investment company and says it has a total paid-up capital of IDR 339,171,883,000 (roughly US$23 million), with investors coming in over 6 rounds (Series A to F). The latest version of the document is from November 27, which matches up with the report of the latest round sometime in November.
#TOKOPEDIA CEO UPDATE#
Companies are obliged to file and update these documents with the Indonesian authorities. KrAsia obtained the legal document that reflects the company structure and shareholding. It’s already said to have raised US$1.1billion from Alibaba last year. The recent reports of another US$1 billion funding round for Tokopedia drew attention to one of Indonesia’s most valuable startups once again.
0 kommentar(er)
