Softbank, U.S. Firm to Invest in Indonesian E-Commerce Leader

Tokyo, Oct. 22 (Jiji Press)--Japan's Softbank Corp. <9984> said Wednesday that a U.S. subsidiary and a U.S. venture capital have agreed to invest 100 million dollars in PT Tokopedia, one of Indonesia's biggest e-commerce site operators. With the equity investment, Softbank Internet and Media Inc. and Sequoia Capital will dispatch officials to the board of Tokopedia. Softbank plans to use its online marketplace know-how to help develop Tokopedia. By investing in an online business giant in Indonesia, which enjoys remarkable growth, Softbank aims to become Asia's leading Internet enterprise, a spokesman said. END