Today In Payments Around The World: Google To Invest In Indonesia’s Tokopedia; India B2B Platform Jumbotail Lands $11M
In today’s top payments news around the world, Google is to invest in Indonesia eCommerce marketplace Tokopedia, while India-based business-to-business (B2B) marketplace Jumbotail has reportedly notched $11 million. Plus, Booking.com is speaking out against the European Union’s intentions to regulate the site as a “gatekeeper” in the hotel space.
Google’s push into online shopping is taking it to Indonesia, where eCommerce is expanding at high rates in the wake of COVD-19. The Alphabet unit and Temasek Holdings Pte, Singapore’s state investment firm, have reportedly agreed to pump $350 million into PT Tokopedia. Alibaba Group Holding and SoftBank’s Vision Fund worked together in 2018 to pump $1.1 billion into the online marketplace.
India-based business-to-business (B2B) food and grocery marketplace Jumbotail has reportedly landed $11 million in a Series B2 round that the firm intends to harness for growth. Heron Rock headed up the round, and other investors reportedly encompassed Pimpernel Holdings, Reaction Fund, Siddhi Capital, Jumbofund and Nexus Venture Partners in addition to multiple high-net-worth people and industry leaders.
Booking.com, which is based in Brussels, is speaking out against the European Union’s intentions to regulate the platform as a “gatekeeper” in the hotel sector. The site said the bloc’s plans will provide foreign rivals with unfair benefits. Booking.Com CEO Glenn Fogel said, as per a report, “We are one of the very, very, very few tech successes in Europe. Let’s be obvious and blatant about this. And our government regulator wants to handcuff us.”
The Chinese version of TikTok, Douyin, could hit the markets as a publicly traded firm under plans being followed by ByteDance, its parent company. Beijing-based ByteDance is having talks with investment bankers and internal discussions about taking the video program public. Douyin reportedly has 600 million users in China.