Japanese e-commerce giant Rakuten just announced today it would launch a joint venture with Indonesian media conglomerate Global Mediacom to run a e-commerce platform service in the country. Rakuten takes 51% stake in the joint venture which is capitalized at USD4.3M. The joint venture will start the service in the latter half of this year and invite Indonesian SMEs to launch their own e-stores.
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First the Yahoo-Koprol deal and now this, seems everybody’s starting to take notice of the Indonesian market. In my experience Indonesian people tend to have the entrepreneurial gene so there should be no shortage of e-stores for this service.
Not the first to cater to this segment (the well-regarded tokobagus.com launched several years back http://www.thejakartapost.com/news/2010/04/29/arnold-sebastian-introducing-online-business-schools.html ), but it’ll be interesting to see how rakuten’s backing factors in, and their approach to security/fraud & localised trading practices (ie. haggling)