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Business deals

Tokopedia bags $1.1bn in new funding from SoftBank and Alibaba

Ride-hailing operator Go-Jek also said to be raising funds for future growth

Tokopedia is not the only Indonesian unicorn that is raising cash. Ride-hailing operator Go-Jek is said to be close to concluding its latest round of funding.(Photo by Erwida Maulia)

JAKARTA -- Tokopedia, Indonesia's largest e-commerce company, has received $1.1 billion in a funding round led by the Japanese-Saudi SoftBank Vision Fund and China's Alibaba Group, showing that the country's startups continue to enamor big international investors.

Tokopedia made the announcement on Wednesday but declined to comment on the company's valuation, though the latest round is believed to take the valuation to around $7 billion.

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