Microsoft to join $100 million investment in Indonesia’s Bukalapak

Microsoft and existing backers GIC Pte and PT Erlang Mahkota Teknologi, better known as Emtek Group, are investing at a valuation of between $2.5 billion and $3 billion, said the people, who asked not to be identified as the details are private.

The U.S. company confirmed it was making a strategic investment in Bukalapak in a joint statement on Tuesday, though it didn’t disclose the amount. Under the partnership, Bukalapak will adopt Microsoft’s Azure as its preferred cloud platform to support its more than 12 million merchants and 100 million customers.

“Through this partnership, merchants and consumers will have a more efficient and reliable buying and selling experience,” Haris Izmee, president director of Microsoft Indonesia, said in the statement.