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Business deals

Google invests in Indonesian unicorn Tokopedia, joining Temasek

US tech companies draw battle lines in Southeast Asia's largest economy

Indonesian technology company Tokopedia recently won the HR Asia Award 2020 as one of the best places to work in Asia. (Source photos by AP, Reuters, and Kosaku Mimura)

JAKARTA -- Google and Singapore's government investment company Temasek have invested in Indonesia's Tokopedia, the e-commerce company's founder and CEO William Tanuwijaya announced on Monday.

The investment comes hot on the heels of Microsoft's capital injection into Bukalapak, Tokopedia's rival, and reflects the increasing appetite that major U.S. tech companies have for Indonesia's unicorns, private companies valued at over $1 billion.

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