This Conglomerate Is Investing $500 Million To Build The “Alibaba Of Indonesia”
Lippo Group, a major Indonesian conglomerate, is planning to invest $500 million to build an e-commerce platform called Matahari Mall, with the avowed intent of becoming “the Alibaba of Indonesia.”
Indonesia has 74.8 million internet users, and e-commerce in Indonesia grew from $1.8 billion in 2013 to $2.6 billion in 2016, according to research firm SingPost. It is, in other words, a place to watch.
