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Aug 22, 2016 21:00:03
EXCL to inject USD30mn into EleveniaEXCL will inject USD30mn into its subsidiary Elevenia which operated in the e-commerce segment. Elevenia is a joint venture between EXCL and SK Planet Co Ltd, a telecommunications provider from South Korea. The investment occured in March 2016. SK Planet CO has also invested USD20mn making the total investment worth USD50mn. Elevenia will use the money to develop its e-commerce business further. Elevenia targets sales of IDR3.5tn this year up 169% from 2015 sales of IDR1.3tn.

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