24 Feb Startup Development in Indonesia
A startup company is an entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a marketplace need by developing an innovative product, process or service. A startup is usually a company such as a small business, a partnership or an organization designed to rapidly develop a scalable business model. As one of the 4th largest population in the world, Indonesia has 70% of population is below 39 years of age who are now rushing to run a startup business.
Startups usually need to form partnerships with other firms to enable their business model to operate. In order to become attractive to other businesses, startups need to align their internal features, such as management style and products with the market situation. Here, startups have several options for funding. Venture capital firms and investors may help startup companies begin operations, exchanging seed money for an equity stake in the firm. Both of them provide financing to a range of startups, with the expectation that a very small number of the startups will become viable and make money.
For those who don’t already know, here are the top 5 startups in Indonesia by 2016:
Launched in 2012, Lazada Group has grown to become the leading online shopping and selling destination in Southeast Asia. The company has about 5,500 employees in the region, with operations in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, and a team in Hong Kong that drives cross-border marketplace activities. In March 2016, Lazada claimed it recorded a total of $1.36 billion in annualized across its six markets in Asia, making it the largest e-commerce player.
Tokopedia is an online marketplace that enable individual and small business owner in Indonesia to open and maintain their online store easily, while facilitating better and convenient online shopping experience. It has grown fast since 2009, and at the moment it claims more than four million active listings and facilitates more than five million sales per month in Indonesia. Besides, Tokopedia claims to be the biggest online marketplace in Indonesia with around 10 million visitors per month.
Traveloka is an Indonesian flight, train, and hotel booking website with a mission to make travel simpler and more compelling. The Jakarta-based online flight, train, and hotel booking was founded by Indonesian engineers with years of experience working for reputable technology companies in Silicon Valley, US. Traveloka previously raised its series A investment from Global Founders Capital and early stage investment from East Ventures. It claims more than 85,000 visitors make a purchase per month.
Go-Jek is an Indonesian hyperlocal transport, logistics and payments startup founded in 2010. In the beginning of 2015 it launches Android and iOS app with transportation and courier for Jabodetabek with a fleet of 800 riders.However, Go-Jek expands its business through other big cities in Indonesia. In August 2016, Go-Jek received funding more than 550 million from loyal investors. In the same month, the application was downloaded more than 20 million times.
Bukalapak is a startup which aims to connect buyers and sellers. Its name means “Opening a Stall in Bahasa Indonesia”. According to the startup, selling 2nd hand items is no longer a difficult task. As with any website online buying and selling services customer to customer, Bukalapak provides a means of buying and selling of consumer to consumer (C2C). Anyone can open an online store in Bukalapak and serve buyers from all over Indonesia for units as well as many transactions. Bukalapak now has about 400,000 live item listings from over 80,000 sellers.