eBay has reportedly entered a joint venture that will open the eBay marketplace to buyers and sellers in Indonesia by next year.
A deal with state-run telecommunications company PT Telekomunikasi Indonesia Tbk (Telkom) will allow consumers to buy and sell on eBay through Plasa.com, an e-commerce site owned by Telkom.
eBay will own 40 percent of the joint venture company, known as PT MetraPlasa, with Telkom holding 60 percent through its subsidiary Multimedia Nusantara, according to news reports.
While the value of the deal was not announced, India’s The Economic Times estimates eBay’s investment to be at least $11 million.
E-commerce in Indonesia reached $1 billion in 2011, while the number of Internet users grew more than 32 percent to 55 million, reports the JakartaGlobe, citing various sources.