Indonesian startup unicorns

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OUR UNICORNS… who is next?

Indonesia is certainly having its own magnet to many startups. The country does have many factors needed for a startup to grow: creative and innovative self-employed talents, large market bases, high increase of internet and mobile devices penetration, and steady economic growth.

According to a Bain & Company analysis published in The ASEAN Post, Indonesia currently has four Unicorn startup, a title given to any privately-held start-up valued at over USD 1 billion. Here they are:

Go-Jek

• On-demand services Go-Jek. Go-Jek markets itself as a Karya Anak Bangsa (made by Indonesia’s kids) that helps citizens earn extra income by either employing them as drivers or boosting their business revenue through delivery services.

Traveloka

• End-to-end travel and lifestyle booking platform Traveloka. Not only providing one-stop go-to travel services, but Traveloka also offers services to support traveler’s lifestyle when they are traveling.

Tokopedia

• E-commerce marketplace Tokopedia. Tokopedia’s business has always been about democratizing eCommerce. Providing ample business opportunities to various small-scale vendors and small-medium enterprises, the marketplace has become a preferred selling/shopping destination.

Bukalapak

• E-commerce marketplace Bukalapak. Bukalapak has a simple purpose for everyone can digitally sell their goods without a large amount of capital and make transactions. Their target market expands to SME to invest in their company and try their market. Currently, Bukalapak has new features to enable customers outside Indonesia to shop on their online shopping platform.

It makes us proud and wonders… who are next?

How consumers interacted with these four Unicorns?

• 70% of consumers ever used Go-Jek. Go-Jek was preferred because it was easy to use, faster, and came as the cheapest compared with the competition.
• 70% of online consumers ever booked a ticket through Traveloka in the past 6 months.
• Tokopedia is perceived to have a good reputation due to its product guarantee, service quality and effectiveness of the system.
• Bukalapak has a good range of product selection and becomes the SMEs’ choice to sell their products.

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