Chinese e-commerce giant and fierce competitor to Alibaba (BABA) , JD.com (JD) is said to be in talks to make a significant investment in Indonesian e-commerce service Tokopedia, sources speaking to Bloomberg said. The goal of the investment would be to ramp up JD's expansion into Southeast Asia.
JD is reportedly in the early stages of what would be an investment of hundreds of millions of dollars. The potential investment could rocket Tokopedia's valuation above $1 billion.
An investment in the Indonesian company would give JD an edge in the region before Amazon.com (AMZN) were to potentially enter an area where smartphone use and middle class wealth is seeing a rise, Bloomberg noted.