Ericsson names new SVP, Head of Digital Services
Swedish telecommunications giant Ericsson has revealed that it has appointed Jan Karlsson as its new Senior Vice President, Head of Business Area Digital Services, and a member of Ericsson’s executive team.
The announcement comes as an internal appointment, with Karlsson having held a number of key roles at the company since rejoining Ericsson in 2014, having previously left the company in 1999.
“I am very pleased to welcome Jan as a permanent member to the executive team. Under his leadership he has ensured that we have continued to execute on our plans to turn the business around in Digital Services,” Börje Ekholm, President and CEO.
Most recently, he stood as Head of Solutions Area BSS within the company’s Business Area Digital Services division.
Further, previously Karlsson acted as the CEO of Digital Route – an independent software vendor that largely focused on data collection and processing across both a number of industries, including telecommunications.
His latest appointment will be effective as of 1 August.
Bukalapak raises $1.5bn in record Singapore IPO, say sources
Bukalapak, currently the fourth largest Indonesian ecommerce company, is said to have raised $1.5 billion in the first IPO by an Indonesian tech unicorn.
Three unidentified, but likely reliable, sources told Reuters the order books for Bukalapak’s IPO were covered by multiples, with one source claiming the issue attracted more than $6 billion in demand despite being listed at the top of its indicated price range.
Bukalapak's 50x growth
Bukalapak was looking to raise just $300 million just a few months ago. The figure grew to $800 million before rising to $1.5 billion as investors jockeyed for a piece of the company.
Covid-19 has had a positive impact on many ecommerce operators, and Bukalapak also has strong investment lines via Singapore sovereign investor GIC and Microsoft, among others. The company focuses on micro, small and medium-sized enterprises.
Indonesia is Southeast Asia’s biggest economy.
Indonesia’s four biggest ecommerce companies
Tokopedia is an Indonesian technology company specializing in e-commerce. It was founded in 2009 by William Tanuwijaya and Leontinus Alpha Edison.
Shopee was first launched in Singapore in 2015, and later expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam, the Philippines, Brazil, Mexico, Chile, and Colombia.
Lazada is a Singaporean multinational technology company which focuses mainly on e-commerce. Founded by Maximilian Bittner with the backing of Rocket Internet in 2012, it is currently owned by the Alibaba Group after its acquisition in 2016.
Bukalapak is an Indonesian e-commerce company. It was founded in 2010 as an online marketplace to enable small and medium enterprises go online and has expanded to support smaller traditional family owned businesses.