List of Collapsed Startups Throughout the Second Half of 2020

The pandemic that is not over add a series of startups that collapsed throughout the second semester of 2020. However, the pandemic is not the only strong reason behind the closing of this startup.

There are other factors that haunt, for example, do not have product market fit thus failing to achieve sustainable business, corporate strategy mistakes, or many more.

Whatever it is, the step of closing a startup has responsibilities that must be resolved to investors, employees, and others stakeholder other. DailySocial ever wrote what has to be done when a startup closes its business.

According to records DailySocial, there are at least five startups that closed their operations in Indonesia in the second half of this year. Here is the list:

1. Sorabel

The closure of Sorabel was quite surprising, as the company was already in later stages and lastly pocketed Pre Series C funding in May 2019 from a number of investors. Kejora Ventures is one of them.

They are effectively closed as of July 30, 2020. Management said the company had done its best to save the company, but failed and reluctantly took the liquidation route.

Although it has been declared closed, Sorabel is not completely exhausted. Ex-Sorabel team switch to startup e-logistics Swift Logistics was reportedly founded by the founders of Sorabel. Swift utilizes the former Sorabel warehouse located in Cawang, Jakarta.

2. Ciayo

Ciayo, a digital comic platform developed by local developers, is official closed on 30 july 2020. Although the reason for the closure was not explained, the presence of similar platforms from large companies led to more fierce competition, such as LINE Webtoon or KakaoPage.

Co-Founder Tjahjadi Handaja said that he had built Ciayo for about five years to have 160 employees. The company started as a platform virtual social media, then pivot into an online comic application and spread its wings to online game in 2016.

3. Shopping

Shopping officially closed on 1 September 2020 after operating for six years. Telkom, as the parent of Blanja, argued that this closure was part of the company's e-commerce business transformation. Telkom will only focus on the e-commerce business in the corporate and MSME segments through B2B transactions.

Positioning Shopping that focuses on B2B/C2C is less attractive than competitors. According to iPrice's research, as of the second quarter of 2020, Blanja's position was ranked 16th.

4. Infokost

After operating for 12 years, Infokost, startup listing boarding house property, officially closed on December 31, 2020. Previously, Infokost provided more than 20 thousand residential listings containing complete information, ranging from data and completeness of residential facilities, public facilities such as ATM and minimarket locations, to location maps.

For applications, they provide the IbuKost application for property management for boarding house owners or managers. This application is equipped with occupant management features, advertising services, accepting room reservations, control of occupancy and occupants, and occupancy statistical data.

5. Zomato Indonesia

Zomato, startups food discovery from India, leave Indonesia (and several other countries) because they want to make business adjustments. Its paid features, namely Zomato Pro or Zomato Gold, were discontinued.

Although the operational team is disbanded, Zomato's basic services (restaurant directory) can still be accessed in Indonesia, but operations are carried out independently. remote from India. In their home country, the company is aggressive with its business model as a food delivery service.