New investors enter Indoexchange

New investors enter Indoexchange

JAKARTA (JP): Indonesian business and finance portal
Indoexchange.com announced on Monday it completed a US$2.9
million private placement from TFG Venture Capital AG & Co KGaA
and PT Giat Utama Sukses.

TFG Venture Capital is a Germany-based publicly listed venture
capital group and Giat Utama Sukses primarily invests in
information and technology companies, the company said in a
statement.

The company, established in 1996, will use the money to build
a solid e-commerce platform, it said.

"This creates a solid platform for Indoexchange.com to expand
its position," Indoexchange president Eddie Darajat said in the
statement.

Indoexchange also said it had appointed PT Ciptadana Sekuritas
lead underwriter for its initial public offering early next year.

It also announced two additional members of its board of
management -- the director of PT Danareksa and former president
of the Surabaya Stock Exchange, Bibin Busono, and Donna
Scattolini, an expert in convergent technology and the founder of
Union Tech. Ltd.

A number of new commissioners have also joined the board,
including Julian Sandt of TFG and Scott Coffey, a cofounder of
the portal, it said in the statement.

"To further strengthen the technical expertise, Onno W. Purbo
has been appointed an adviser," the company said.

Indoexchange.com currently has 87,000 registered users with
approximately 250,000 page views a day. (tnt)