Microsoft to invest in Ant Group-backed Indonesian startup Bukalapak

This post was originally published on this site

FILE PHOTO: The Microsoft logo is pictured ahead of the Mobile World Congress in Barcelona, Spain February 24, 2019. REUTERS/Sergio Perez

(Reuters) – Microsoft Corp said on Tuesday 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 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.

Reporting by Maria Ponnezhath in Bengaluru; Editing by Bernard Orr