• Tuesday, August 20, 2019

Half of Southeast Asian Unicorns Come From Indonesia

Discussion in 'China & Far East' started by Indos, Jun 12, 2019.

  1. Indos

    Indos PDF THINK TANK: ANALYST

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    The wild ideas of startup founders who are graduates from abroad have given birth to unicorns in the Southeast Asia region. Southeast Asia is the region that has the most unicorns (startups with a valuation of more than US $ 1 billion) in the Asian region after China and India. In a report TheSoutheastasia entitled Evolving Southeast Asia in ASEAN there are eight unicorn. Of these four of them are from Indonesia.

    In the Bamboo Curtain country there are currently about 90 unicorns and in India there are 10 unicorns. While startups in the Southeast Asia region that have a valuation of more than US $ 1 billion there are eight. In Korea there are only three unicorns, Japan, Australia and Hong Kong each have only one unicorn.

    Wild ideas from the founders of startups have given birth to unicorns in the ASEAN region. Like the birth of the application of motorbike transportation services from Go-Jek which has now penetrated into various services in the community.Based on the valuation value, Grab still leads the top of the Unicorn with the largest capitalization, reaching US $ 10 billion. Then Go-Jek followed with a valuation of US $ 5 billion.

    The founders of Indonesian startups who have gone on to become unicorns have unique stories and most are graduates from abroad. Most importantly, the founders were able to convince fund managers to finance the companies they had initiated from the start.

    With the largest population and internet users in Southeast Asia, Indonesia is a potential digital market.

    https://databoks.katadata.co.id/dat...-unicorn-asia-tenggara-berasal-dari-indonesia
     
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  2. Indos

    Indos PDF THINK TANK: ANALYST

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    Indonesian Unicorns

    [​IMG]
     
    Last edited: Jun 12, 2019
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  3. Marine Rouge

    Marine Rouge ELITE MEMBER

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    Gojek is a Decacorn start up now
     
  4. Indos

    Indos PDF THINK TANK: ANALYST

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    Gojek hits 10 million trips in Singapore within 6 months of launch

    Indonesian ride-hailing giant Gojek said its users in Singapore had taken 10 million trips or nearly 39 trips per minute six months after its launch in the city-state. It’s unclear how much was spent in terms of marketing to hit the milestone.

    [​IMG]
    Gojek’s GoalBetter launch event in Singapore / Photo credit: Gojek

    Its rival Grab said it does not reveal country-specific numbers in response to a request seeking details about the company’s ridership figures in Singapore.

    But according to a blog post, Grab users in Southeast Asia clocked 1 billion trips over a six-month period ending January 20, 2019. This translates to about 3,860 trips made per minute.

    Gojek has also launched a rewards program for its driver partners in Singapore. According to a media statement, drivers who have completed 1,000, 2,500, or 5,000 trips since the service launched in the island nation will receive additional benefits and decals to mark trip milestones.

    Aside from Singapore and its home market of Indonesia, Gojek is active in Vietnam, Thailand, and has acquired a payments subsidiary in the Philippines called Coins.ph.

    https://www.techinasia.com/gojek-hits-10-million-trips-singapore
     
  5. Robin Wong

    Robin Wong FULL MEMBER

    New Recruit

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    There are currently 4 unicons and 2 decacorns from ASEAN.

    [​IMG]
     
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  6. lcloo

    lcloo SENIOR MEMBER

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    And Malaysia is nowhere to be seen. Thank you very much to our economic and education policies.
     
  7. Indos

    Indos PDF THINK TANK: ANALYST

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    Bukalapak launches BukaGlobal, opening platform to international users

    Indonesian ecommerce unicorn Bukalapak has launched BukaGlobal, a new feature that lets consumers outside Indonesia shop on the Bukalapak platform.

    A blog post announcing BukaGlobal was published last Friday, while a new video advertisement was uploaded to Bukalapak’s YouTube channel yesterday.

    Currently, the feature is open to shoppers in Malaysia, Singapore, Brunei, Hong Kong, and Taiwan. On the supply side, it’s available to selected merchants in Jakarta and neighboring Tangerang.

    BukaGlobal makes Bukalapak the first Indonesian ecommerce company to be available internationally. Homegrown competitors like Tokopedia continue to focus solely on the Indonesian market, while regional players Lazada and Shopee are both headquartered in Singapore.

    https://www.techinasia.com/bukalapak-launch-bukaglobal-opening-platform-international-users

     
  8. 313ghazi

    313ghazi SENIOR MEMBER

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    I wonder what lessons we can learn from this?
     
  9. Mista

    Mista SENIOR MEMBER

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    Gojek has to thank the Singapore government for that lol. Grab was monopolizing the market in Singapore. But in the interest of consumers, regulators here regulated them and introduced competition even though Temasek has a substantial stake in Grab.

    https://www.straitstimes.com/singap...lion-by-competition-watchdog-for-march-merger
     
  10. Indos

    Indos PDF THINK TANK: ANALYST

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    Same like in Indonesia, we also let grab to enter Indonesian market even though we have Gojek already and for e- commerce we let Shoppie to come while we already have Tokopedia and Bukalapak.

    We will see whether Gojek are able to compete Grab in the region or not. Bukalapak has also followed Gojek to go international and start competing Lazada and Shoppie in South East Asia. These youngster who lead the companies seem quite aggressive and brave.

    Indonesia also has business competition supervisory commission to deal with monopoly and other unhealthy business practice http://eng.kppu.go.id/overview/
     
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  11. Indos

    Indos PDF THINK TANK: ANALYST

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    Indonesian unicorn Traveloka expands to Australia
    • News Desk
      The Jakarta Post
    Jakarta / Thu, February 28, 2019 / 06:48 pm
    [​IMG]
    A customer uses the Traveloka app on a smartphone.

    Airline ticketing and hotel booking service Traveloka has officially expanded to Australia, a move the Tourism Ministry expects will help boost Indonesian tourism.

    The online booking provider started operations in Australia on Wednesday, allowing Australians to access its five products; flight ticketing and hotel booking services, flight ticket and hotel packages, airport accommodation, entertainment and utility services through its website and application.

    Traveloka global partnership head Yady Guitana said the company was enthusiastic about breaching out of Southeast Asia, as Australia is relatively ahead of the former in terms of internet connection and penetration as well as payment infrastructure.

    "We hope that our presence in Australia will enrich consumers' life experiences by providing them with a one-stop go-to app for travel and lifestyle," Yady said in a statement on Wednesday as quoted by tempo.co.

    Traveloka, one of Indonesia's four unicorn startups, partners with the Tourism Ministry in the country’s tourism campaign Wonderful Indonesia, which is aimed at helping the government reach the target of 20 million foreign tourist arrivals this year, Yady said.

    Indonesia was the second-favorite travel destination for Australians after New Zealand in 2018 according to market research and business intelligence portal Statista.

    Statistics Indonesia (BPS) recorded 1.3 million Australian tourist arrivals in the country in 2018, with the Tourism Ministry expecting a 15 percent increase to 1.5 million arrivals this year.

    Edy Wardoyo, the ministry's marketing development deputy assistant for Australia, New Zealand and Oceania, said Traveloka's decision to expand in Australia would play a significant role in easing tourist access.

    "Australia offers a promising market for Indonesia's tourism sector, as the number of Australian tourist arrivals in Indonesia keeps increasing every year," he said. (ars)

    https://www.thejakartapost.com/news...n-unicorn-traveloka-expands-to-australia.html
     
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  12. KediKesenFare

    KediKesenFare SENIOR MEMBER

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    Beautiful. Indonesia has a bright future. Sweetest people of SE Asia.
     
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  13. acelaw

    acelaw FULL MEMBER

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    Indonesia's Go-Jek acquires Indian AI recruitment start-up AirCTO

    Quote:
    Indonesian ride-hailing company Go-Jek has acquired AirCTO, a Bengaluru-based artificial intelligence recruitment platform.

    As part of the deal, the AirCTO team will be joining Go-Jek with immediate effect and will be looking into building products that accelerate the recruitment of talent for Go-Jek. The acquisition aligns with Go-Jek’s focus on hiring premium talent to support the development of its ‘Super App’. Terms of the deal were not disclosed.

    “The (AirCTO) team will use technology to help us scale up our hiring processes. Finding quality talent is always a challenge,” said Sidu Ponnappa, managing director India at Go-Jek.

    AirCTO focuses on the pain points technology firms experience as they seek to find talent that fits their requirements. Over the past three years, it has helped a range of start-ups and corporates source qualified candidates for critical technology roles. “We were in talks with a number of other tech giants, but we found Go-Jek to be the best fit, as we share similar DNA - something that’s really important for us,” said Atif Haider, founder of AirCTO. “We intend to use our prowess in recruitment to contribute to the hyper-growth Go-Jek is currently experiencing across Southeast Asia,” added Haider.

    Google and Tencent-backed Go-Jek, whose value was calculated at $10 billion by US research firm CB Insights, placing it in the ranks of start-ups called decacorns, has also opened its second engineering and product development centre in Gurugram. For this, Go-Jek plans to hire 100 employees aiming to reach a total headcount of 500 in India by the year-end. As part of its expansion plans, the company is also considering further acquisitions in India.

    Go-Jek, which mainly competes with ride-hailing firm Grab, is presently betting big to capture the Southeast Asia market. India is its largest region for the talent pool, as out of the total 300 engineers, over 200 people are based in Bengaluru. In 2016, Go-Jek had bought Bengaluru-based C42 Engineering and Delhi-based CodeIgnition Software Solutions mainly to hire talent. The company has recorded an annualised gross transaction value (GTV) of $9 billion as of 2018.

    “The hyper-growth journey we’ve been on demands talent who are willing to take risks, fail, learn and continue to scale a company that aims to solve everyday problems for Southeast Asia,” said Ponnappa of Go-Jek. “With operations underway in Singapore, Thailand and Vietnam, we will now consider whether further acquisitions are needed as we seek to bring in entrepreneurial teams who can help us further develop the multi-service business model,” added Ponnappa.
    https://www.business-standard.com/ar...1200220_1.html
     
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  14. Senang Diri

    Senang Diri FULL MEMBER

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    You with your seasia.co/GoodnewsfromIndonesia nonsense again?

    Grab is valued at US$14b now

    https://edition.cnn.com/2019/03/06/tech/grab-softbank-singapore/index.html
    https://www.cnbc.com/2019/03/06/grab-says-it-secured-new-funds-from-softbank-vision-fund.html


    What happened to Razer? Garena/Sea?

    Yup, IPO'd.

    And what happened to Lazada?

    Trax just recently became a unicorn. The founder is from Israel, though.

    https://www.techfunnel.com/information-technology/trax-joins-the-unicorn-club/

    The same was true for Grab, whose founders are from Malaysia.

    Overall, Singapore based startups raised US$10.5b (S$14.3b) in 2018.

    Indonesia, a country around 50 times as big in population and 2,500 times in area, raised a smaller amount. :lol:

    https://www.smehorizon.com/singapore-strengthens-its-startup-ecosystem/

     
  15. nang2

    nang2 SENIOR MEMBER

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    My former manager, a French, went to Jakarta for a start-up company. It surprised me then. I guess I shouldn't be surprised at all. :)