The government will maintain the sustainability of the digital economy in Indonesia followed Tokopedia' hacking - Photo by the Company

JAKARTA (TheInsiderStories) – The government will maintain the sustainability of the digital economy in Indonesia followed Tokopedia‘ hacking. Based on some reports, 91 million of the e-commerce customers data has been hacked recently by the hackers on March.

On May 2, the platform reported has found that there had been an attempt to steal data from its users but ensured that crucial information such as passwords remains successfully protected behind encryption. Its also adding that the company continued to investigate further into this matter and there was no additional information that it can share.

“The government will continue to ensure that the digital economy, especially e-commerce, can run well and smoothly without interference from data hackers or data breaches,” minister of communication and information, Johnny G. Plate told reporters in a virtual conference today (05/04).

During the meeting, he received a report from Tokopedia about the alleged portion of hacked user the company’ data. Further on, said Plate, his ministry, National Cyber Agency and the e-commerce provider will conduct technical evaluation and mitigation. He said, the parties will increase the security of personal data using digital platforms in the future.

Tokopedia conveys that the financial data and customer accounts are safe. Its security system has yet to be breached, although some data related to names, e-mails and telephones may have been entered by hackers,” he explained by adding that the company is currently conducting an in-depth evaluation.

The minister asserted, data hacking had happened and was experienced by global companies and government agencies from large countries.

Backed by US$2 billion in funding from investors such as Japan’ SoftBank Group and China’s Alibaba Group, Tokopedia, whose founder and CEO, William Tanuwijaya, is one of unicorn in the country. The company claims more than 90 million monthly active users.

Now, the company is reportedly in the final stages of closing an investment round valued at around $1.5 billion from Softbank, Alibaba, and Singapore-based Temasek.

The Tokopedia marketplace, which is notably the largest of its kind in Indonesia, is now on track to become one of the biggest unicorns in the country following its funding round, right behind GoJek, the first Indonesia-headquartered firm to reach a valuation of roughly $10 billion.

The round could be finalized “as soon as next quarter” of this year. The $1.5 billion capital injection would value Tokopedia at anywhere between $8 billion and $9 billion, according to sources familiar with the matter. The firm was valued at $7 billion in 2018.

Founded in 2009, Tokopedia is an online marketplace that allows individuals and business owners in Indonesia to open and maintain their stores for free. It became the fourth unicorn in Indonesia in 2018. It previously raised $1.1 billion in a funding round led by SoftBank and Alibaba, pushing its valuation to around $7 billion.

It was reported in October of last year, that Tokopedia was considering to list at home and in another market. The company is looking to do the dual listing because it wants its consumers and sellers to also become shareholders, said Tanuwijaya.

Written by Staff Editor, Email: theinsiderstories@gmail.com