Microsoft to invest in Ant Group-backed Indonesian startup Bukalapak

Microsoft to invest in Ant Group-backed Indonesian startup Bukalapak

Microsoft Corp announces link-up with Ant Group-backed Indonesian startup Bukalapak. Microsoft will also be investing in the e-commerce platform.

As part of the deal, Bukalapak will adopt Microsoft’s cloud platform Azure and provide digital skills training for Bukalapak employees and their merchants. Bukalapak’s existing backers and Microsoft are reportedly investing at a valuation between $2.5 billion and $3 billion

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Bukalapak, which is valued at more than $2.5 billion, is also backed by Singapore sovereign wealth fund GIC Pvt. Ltd. and Indonesian media conglomerate Emtek. Microsoft has agreed to a $100 million investment in Bukalapak.

To Read More:  Reuters

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