Tech Post

Microsoft to invest in Ant Group-backed Indonesian startup Bukalapak


Published : 03 Nov 2020 08:27 PM

Microsoft Corp said on Tuesday it has linked up with Ant Group-backed Indonesian startup Bukalapak and will invest in the e-commerce platform, reports Reuters.

Under the deal, Bukalapak will adopt Microsoft's cloud platform Azure and provide digital skills training for Bukalapak employees and their merchants, Microsoft said in a blog here post.

A Bukalapak spokeswoman confirmed the investment, but declined to specify the amount. Microsoft did not immediately respond to comment.

Bukalapak, which is valued at more than $2.5 billion, is also backed by Singapore sovereign wealth fund GIC Pte Ltd and Indonesian media conglomerate Emtek.

A Bloomberg report earlier said that Bukalapak’s existing backers and Microsoft are investing at a valuation between $2.5 billion and $3 billion.

Microsoft has agreed to a $100 million investment in Bukalapak, the report added.

Microsoft Corporation, shortly known as Microsoft, is an American multinational technology company with headquarters in Redmond, Washington. It develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and related services.