JD.id Confirms Clothing Status “Unicorn” (UPDATED)

Platform E-commerce JD.id confirmed to DailySocial that the company's valuation has exceeded US$1 billion. Thus JD.id adds to the ranks of Indonesian unicorns to 6 companies. Included in this "elite" list are Gojek, Tokopedia, Traveloka, Bukalapak, and Ovo. Three startups in this lineup operate in the e-commerce vertical.

JD.id was reluctant to detail how much funds were obtained and the current valuation. They also did not confirm the funding rumors from Gojek that's been widely heard from last year. According to our sources, there were several parties involved in its final funding.

Early last year Gojek and JD announce formation j.

Site E-commerce which has the jargon of "selling goods with original guarantees" came to Indonesia as a result of a strategic collaboration between Chinese e-commerce giant JD.com and private equity Provident Capital. The Provident himself is an investor Gojek and with JD.com as well build j JD in Thailand.

Menurut report e-Conomy SEA, market share E-commerce in Indonesia has reached US$21 billion in 2019 and is projected to grow rapidly to US$82 billion by 2025. No doubt the giants E-commerce continue to strengthen the business strategy.

The competitive landscape in the business vertical is also very tight, because JD.id is dealing with unicorn others, namely Shopee, Tokopedia, Bukalapak and Lazada.

In 2019, Tokopedia recorded a Gross Merchandise Value (GMV) reaching 222 trillion Rupiah. While in the first half of 2019, Bukalapak announced that GMV reached 70 trillion Rupiah, while for the same period Shopee recorded a GMV of 20,1 trillion Rupiah.

Meanwhile, when viewed from platform visits statistics in the third quarter of 2019, iPrice research reveals the following data:

There are many approaches taken by e-commerce players to win the market. If platforms such as Bukalapak and Tokopedia intensify partnership programs, JD.id on several occasions always conveys its focus on strengthening logistics, especially features same day delivery.