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While cloud kitchens have an obvious leg-up at a time when dine-in is virtually non-existent, cloud kitchens that are part of a delivery app have an even greater advantage. They can control their messaging and build trust with consumers. Grab, for instance, enabled a “contactless delivery” feature, which means the delivery person drops off food … Read more
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
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
To address this situation, VCs seem to be gearing up to back their existing portfolio companies with bridge rounds or small inside rounds to help them stay afloat for the next 12-18 months. Following Sequoia’s lead, every major VC in India is advising firms to conserve cash and raise as much money as they can … Read more
But like their large consumer startups brethren, these startups might also face valuation and funding challenges sooner or later. “When startups have capital, they don’t feel the need to push the envelope; there are many that can be profitable but choose not to. Now that will change,” echoed a prominent Singapore-based VC, who wished to … Read more
On the podcast, Makarim slips into soccer parlance, describing some key individuals at the firm, such as himself, as strikers—the players who score the goals and take risks—while there are others, including merchant head Suliawan, who he sees as defenders. With Makarim moving into politics, Gojek loses one of its most prominent strikers, and an … Read more
It wasn’t until around 2014 that Haryopratomo and Suliawan urged Makarim to go full time with Gojek. It was a good year. Cab company Uber picked up speed; started its Southeast Asian expansion. It launched in Jakarta in August that year. Elsewhere, the Malaysian taxi aggregator app GrabTaxi—now known simply as Grab—had already launched in … Read more