Indonesia
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Alibaba leads $1.1B investment in Indonesia-based e-commerce firm Tokopedia
Alibaba has continued its push into Southeast Asia after it led a $1.1 billion investment in Tokopedia, an e-commerce firm based in Indonesia. A valuation for the deal was not announced, but the companies did say that Alibaba has become a minority shareholder. Tokopedia, which was founded in 2009, operates a marketplace that allows small retailers and large brands to sell to consumers in… Read More
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PAYFAZZ wants to build a network of distributed bank agents in Indonesia
Hendra Kwik is hoping to tap into the excitement of on-demand companies like Uber and distributed workforces — except instead of ridesharing, he’s hoping it will work for banking. That’s the theory behind PAYFAZZ, which coordinates with banks to create a distributed network of bank agents that can operate from wherever — even their own homes. Once that person is… Read More
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Alibaba and Tencent are carving up Southeast Asia’s startup ecosystem
Two global tech forces are putting their mark — and money — into Southeast Asia’s nascent startup ecosystem, but they may not be the Western names that you expect. Rather than Google, Facebook or Microsoft, increasingly Chinese duo Alibaba and Tencent are the driving forces behind the importing of large sums of capital and vast business experience into Southeast… Read More
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Chinese brands have invaded Indonesia’s fast-growing smartphone market
If you’re looking for a market with smartphone sales growth potential then India usually comes to mind, but the market is moving forward with much promise in Indonesia, the world’s fourth largest country. A new report from IDC shows that smartphones sales in the country accelerated by 13 percent year-on-year during the first quarter of 2017. A total of 7.3 million devices shipped… Read More
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Intudo Ventures launches $10M fund for Indonesia’s fast-growing startup ecosystem
Indonesia is one of Southeast Asia’s most promising startup ecosystems and today it gained a new investor. Intudo Ventures’ debut fund has more than $10 million to invest into about 12 to 16 early-stage Indonesian startups, as well as joint ventures with overseas companies that want to break into the market. Read More
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Garena rebrands to Sea and raises $550 million more to focus on Indonesian e-commerce
Garena, one of Southeast Asia’s biggest tech startups, has picked up $550 million in new funding and changed its name. The Singapore-headquartered consumer Internet company told Bloomberg that it is now called Sea Ltd. to reflect is global expansion plans (and also because SEA is an acronym for Southeast Asia). Its new valuation was undisclosed. Read More
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Crunch Report | Go-Jek Raises $1.2 Billion
Go-Jek raises $1.2 billion, Soylent raises $50 million, wheelchairs get a makeover from Izzy Wheels and Uber attempts to make UberPOOL a little less like a game of Russian roulette. All this on Crunch Report. Read More
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Indonesia’s Uber rival Go-Jek raises $1.2 billion led by Tencent at a $3 billion valuation
Go-Jek, the motorbike on-demand startup that is battling Uber and Grab in Indonesia, has closed a new round of $1.2 billion led by Chinese internet giant Tencent, two sources close the company told TechCrunch. The deal, which we understand was signed last week, values the company at $3 billion post money. It is expected to be officially announced “soon.” Go-Jek declined to… Read More
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Alibaba’s Ant Financial to develop services in Indonesia as global expansion continues
Ant Financial, the fintech company affiliated with Chinese e-commerce giant Alibaba, is continuing its global expansion. The firm has taken its first official step into Indonesia today after it announced a joint venture to develop local financial services. The company has partnered with conglomerate Emtek, Indonesia’s second largest media firm and an investor in -major e-commerce… Read More
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Uber rival Grab makes first major acquisition to build out its payments platform
Grab, Uber’s biggest rival in Southeast Asia, has completed its first major acquisition after it bought up Indonesian startup Kudo to boost its nascent mobile payments platform. Neither party is giving a figure for the size of the deal, which was first rumored in February. Initial reports at the time suggested Grab would pay over $100 million for Kudo, but two sources close to the… Read More
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Uber agreed to, then scrapped, a non-compete deal with Indonesian unicorn Go-Jek
Uber may have a reputation for steamrolling its competitors, but it can be conciliatory at times. In 2015, a year before its retreat from China via the sale of its Chinese business to rival Didi, the U.S. company agreed to a non-compete deal with Go-Jek, a fast-growing on-demand service from Indonesia that’s valued at more than $1 billion, TechCrunch has learned. In a bid to… Read More
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Indonesia’s Printerous raises $1.4M to digitize traditional printing
Printerous, an Indonesia startup that is bringing the country’s printing industry into the digital era, has raised $1.4 million. The round was led by Golden Gate Ventures with participation from U.S. firm Sovereign’s Capital and Indonesian conglomerate Gunung Sewu Kencana. The two-year-old company is using the internet to make traditional printing more efficient and convenient. Read More
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Grab is buying Indonesian payment firm Kudo in its first major acquisition
Uber’s Southeast Asia rival Grab is in the process of buying up Indonesia-based online payment startup Kudo in its first major acquisition. A source close to discussions confirmed to TechCrunch that talks are ongoing and a deal could be announced as soon this week. Reuters first reported the deal, which it said would be over $100 million however our source suggested that the figure… Read More
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Grab is investing $100M in startups to help it battle Uber in Southeast Asia
Grab is upping its battle against Uber in Southeast Asia by announcing a flurry of new initiatives in Indonesia, the region’s largest economy and world’s fourth most populous country, which include setting aside $100 million to invest in startups. Today the Singapore-based company, which is valued at $3 billion and claims 33 million downloads, announced what it is dubbing… Read More
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Not just Uber, now Grab is also hiring government insiders to grow its business
Southeast Asia’s Grab is taking a leaf out of the Uber playbook and bringing in a prominent insider to get ahead in its most important market. Uber popularized the approach of nabbing execs like ex-Obama advisor David Plouffe and various others, and that’s the thesis behind ride-sharing firm Grab’s latest hire: the former chief of Indonesia’s National… Read More
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Enemies no longer, Uber strikes partnership with Indonesia’s second largest taxi firm
Uber is the scourge of taxi drivers worldwide, but sometimes the two can pull in the same direction. Like in Indonesia today, for example, where Uber inked a partnership with the country’s second largest taxi cab provider, Express Group, to allow its drivers to use the on-demand service to boost their income. Read More
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Honda invests in Southeast Asia-based Uber rival Grab
Southeast Asia’s Grab, a ridesharing rival to Uber, has welcomed a new backer after Honda announced an undisclosed investment in the company today. Read More
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Foodpanda is selling its Indonesia business and rethinking the rest of Southeast Asia
Foodpanda, the food delivery startup backed by Rocket Internet, is selling its operations in Indonesia and evaluating its presence in the rest of Southeast Asia as part of a push towards profitability. Read More
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Uber rival Go-Jek confirms $550M raise and hints at Southeast Asia expansion
Indonesia-based Go-Jek, the motorbike taxis on-demand company that competes with Uber and Grab, has confirmed that it has raised $550 million new funding and hinted that it may expand overseas. Read More
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Indonesia’s Go-Jek raises $550 million to battle Uber and Grab
Go-Jek, the on-demand motorbike taxi service that rivals Uber and Grab in Indonesia, has closed $550 million in new funding, a source close to the company told TechCrunch. The deal values Go-Jek at $1.3 billion and could be announced as soon as this week, we understand. Read More
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