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Tuesday, January 19, 2021

Microsoft to invest in Ant Group-backed Indonesian startup Bukalapak – Latest News

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

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 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.

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