Tokopedia projects to contribute US$12B to the Indonesian economy this year [KrAsia]
Indonesian e-commerce unicorn Tokopedia will contribute IDR 170 trillion (USD 12 billion) to the Indonesian economy in 2019, according to recent research by the University of Indonesia’s economic and social research institute (LPEM FEB UI).
The number more than doubled from last year where Tokopedia’s contribution to the economy amounted to IDR 58 trillion (USD 4 billion). The figure was generated using the researcher’s input-output methodology, according to Kiki Verico, vice director of LPEM FEB UI. There are several aspects that contribute to this calculation. For example, it focuses on local products only.
This surge was caused by the increase of sellers on Tokopedia’s marketplace in the past year.
WeWork India to raise US$200M for expansion [Press Trust of India]
Co-working major WeWork India, owned by realty firm Embassy Group, will raise US$200 million by December to expand business and expects to be profitable at the entity level in one year, a top company official said.
Asserting that there would be no impact on the Indian operation due to deferment of public issue of US-based WeWork, India business head Karn Virwani said the company has already invested INR 1,300 crore (US$183 million), including INR 1,000 crore (US$141 million) as equity, in this business and will continue to infuse more for growth.
“There is lot of speculation about WeWork India business. We still believe in WeWork brand. India business is really growing well. Embassy Group is bullish about the co-working sector and we continue to expand,” WeWork India’s Karan Virwani told in an interview.
Hong Kong-based adtech startup OneOneDay raises US$1.3M [press release]
OneOneDay, a Hong Kong-based adtech startup, has raised US$1.3 million in a pre-series A round of funding from Chinese investors to fuel its growth and expansion plans.
With this funding, OneOneDay aims to scale up its sales operations and sustain the ongoing enhancement of the platform.
OneOneDay empowers individuals to mindfully choose the advertisements they watch. The platform seeks to mine from the ad-spend waste created in the current market structure, and redirect these funds to viewers and the social causes of their choice.
For advertisers, Oodies provides an effective anti-advertising waste solution by matching the target audience precisely, as powered by blockchain and psychometrics. Advertisers that are already on the platform include HUL’s Fair & Lovely Career Foundation and Bisleri. In addition, OneOneDay has signed a significant partnership agreement with Airtel.
OneOneDay has recently launched the Oodies app in India which allows users to earn cash rewards and donate advertising revenue to a social impact cause of their choice by watching advertisements curated specifically for them. The app is available nationwide in India for Android users at present.
Oodies welcomes all new users to join their attention revolution.
Chinese cross-border e-commerce platform Club Factory raises US$100M [DealStreetAsia]
Chinese cross-border e-commerce platform Club Factory has raised US$100 million in a Series D round of financing led by investors including Chinese venture capital firm Qiming Venture Partners.
The round saw the participation of Club Factory’s existing shareholders Bertelsmann Asia Investments (BAI), the investment platform of German media, services and education firm Bertelsmann, and Frees Fund, an investment company co-founded by IDG-Accel’s former partner Li Feng, BAI announced in a statement on its WeChat official account on Friday.
The transaction was completed earlier this year.
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