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fmc4me Tokopedia, which launched in 2009, holds a special place in Indonesian entrepreneurship lore because it was a pioneer in the e-commerce space. Its founder, William Tanuwijaya, is also very relatable. Hailing from a middle-class family in Sumatra, Tanuwijaya is a nerdy first-time entrepreneur who used to work at an internet cafe. Tokopedia consistently upholds the … Read more
East Venture’s Cuaca, however, denies that SoftBank’s situation plays a role in this at all. “Strategising for a path to profitability happened two years ago, long before the WeWork saga,” he claims. Tokopedia declined to answer any specific questions related to its 2019 strategy and performance. “In 2019, Tokopedia managed to grow revenue by three … Read more
Tokopedia is by no means an underdog. It raised over US$1 billion from Japanese investment firm SoftBank and Chinese internet giant Alibaba in 2018, at an estimated valuation of US$7 billion. Joe Tsai, co-founder and executive chairman of the Alibaba Group, sits on Tokopedia’s board. The firm’s CEO William Tanuwijaya is fundraising and said he … Read more
The need to build for local conditions has already slowed Xiaomi’s smart product rollout in India. Its smart water purifier, for example, took almost a year to be made fit for Indian conditions. One key difference was that Chinese water purifiers typically slot in below the sink, while in India, they are usually mounted above … Read more
One distributor who runs several Mi Home stores said that the company has done better offline than online for ecosystem product sales. “Many people come to our store to experience and get the demo of a particular product, because even some of the LFRs (large format retail stores) don’t stock such products. With Xiaomi’s compelling … Read more
But replicating its initial successes will not be straightforward. 5G internet, one of the primary drivers of IoT products, is still a good two years away from deployment in India. The company cannot simply transpose its Chinese portfolio onto India either, given the social, cultural, and environmental differences between the two companies. Hence the Bengaluru … Read more
Former employees that we spoke to, said one thing is clear throughout iflix’s turbulent journey. The goal is to IPO the business—straight out of Grove’s playbook, who is widely hailed as the king of tech IPOs in Southeast Asia. Seeing land According to one former employee, IPO talks have been revived and the startup might … Read more
The company has retreated from being a global player to a regional one and is redirecting its advertising-based video on demand (AVOD) model to three largest Southeast Asian markets: Indonesia, Malaysia and the Philippines. The AVOD is taken out of China’s streaming giant iQiyi’s playbook, and it is now the primary revenue source for iflix. … Read more
In any moment of significant industry disruption, you go into investment mode. Any startup—iflix, Grab or Gojek—is willing to invest into losses because the disruption in terms of market value is enormous. We are still in the investment mode. And I think we will be like that for the next three to five years,” he … Read more
Now, the company is putting its hopes in what seems like a Hail Mary—a pivot from subscription video-on-demand (SVOD) to an advertising-based revenue model. In a December 2019 email announcing his exit, Frenehard told employees this shift had “accelerated the positive momentum” of iflix’s progression towards profitability. Mixed messaging? iflix is investment firm Catcha Group’s … Read more