Seven Years Found, Dinomarket Claims to Reach Break Even Point (UPDATED)

Product marketplaces consumer electronicsDinomarket celebrates its seventh anniversary with an important announcement. It claims to have achieved break event point (BEP), a rare condition among e-commerce startups.

Dinomarket was founded in 2008 by Victor Wiguna and received Series A funding from Tiger Global Management and personal investors Michael van Swaaij for $6 million (82 billion Rupiah at today's rates) in 2011. van Swaaij was previously the Chairman of Skype.

So far, there is a stigma that it takes a long time for a large marketplace service to be able to make a profit, or at least break even. Rocket Internet companies, in this case Lazada and Zalora, expected only reached this condition within 6-9 years since its establishment. They even had time to make a scene by posting a combined loss of 3,1 trillion Rupiah in 2014.

Commenting on this achievement, Dinomarket represented by Rut Nova said that Dinomarket's business model was different seven years ago after obtaining funding from Tiger Global. They themselves do not plan to achieve BEP this year. Even so, they claim to have a professional and healthy company management. This is different from startups in general, which are still not focused on profit and a healthy and independent business.

Regarding business development, Rut ensured that Dinomarket would remain in the gadget and electronics niche. When asked about the possibility of opening a new funding round, Rut diplomatically replied, "We open for discussion and collaboration opportunities with any investors."