Alibaba led a $1.1bn investment in Tokopedia.

Alibaba led a $1.1bn investment in Tokopedia, an e-commerce firm based in Indonesia. A valuation for the deal was not announced, but the companies did say that Alibaba has become a minority shareholder. “We have always thought of Alibaba as our teacher and role model,” Tokopedia CEO and co-founder William Tanuwijaya said in a statement. “Today, we are excited to welcome them as a shareholder and we believe that our partnership will further accelerate Tokopedia’s mission, to democratize commerce through technology.”