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(Yicai Global) Dec. 12 -- Alibaba Group Holdings has joined SoftBank Vision Fund in leading a USD1.1 billion funding round for Indonesian e-commerce player Tokopedia.
The Jakarta-based unicorn will use the funds to build technology and infrastructure enabling millions of local businesses to grow as well as provide the best customer experience, according to a statement.
Softbank Ventures Korea and other existing investors also participated in the funding round.
Tokopedia is Indonesia's largest e-commerce company and provides a marketplace platform, as well as logistics, payment, and financial technology.