The Effect of Kaskus Funding on Startup Ecosystems in Indonesia

Kaskus receive investment funds From GDP Venture some time ago, it was indeed amazing news, not only because of the agreement between Kaskus-GDP Venture, but its impact on the startup ecosystem in Indonesia on a macro level.

Rumors were unavoidable, circulating quickly about the valuation of Kaskus which reached $60 million, $80 million and even $100 million USD. Kaskus itself did not confirm their valuation when it was funded by GDP, making many people even more curious.

It's no secret that GDP Venture is an extension of the Djarum Group which is engaged in internet technology, and since some time ago, many parties from large business groups have started to look at investing in web startups. For example, from the Sampoerna Foundation through the program Bloom.biz who started to move slowly (updates regarding Mekar.biz are below), there are also those from the Bakrie Group who have started present his vision in incubation and investing in technology companies. And there are still several other giant groups who are preparing programs that will allow them to enter tech startups.

Don't want to miss out, even telcos get into this business starting with the Bakrie Group. The idea is simple: telcos can no longer sell airtime and sms, the most they can sell is internet data packages. And to sell internet data packages, they need content, be it local content or foreign content. This is where startups enter as content providers for telcos, and it seems that most telco companies have a strategy that is not too different. There are also some who help startups by providing a mobile payment platform, interesting isn't it?

But reconnecting with the Kaskus investment process by GDP Venture, macro businessmen who usually play in mining, agriculture, oil, and others are now starting to look at the internet as a promising new area. Maybe some investors have started to look at technology, but there are still many who are skeptical about the virtual world of the internet. This Kaskus funding process then plays an important role in showing how a well-managed online forum can become a profitable business with high profits.

This certainly has a big impact on the startup ecosystem as a whole, where there is more and more interest in investing in tech startups that have potential. Even some conglomerates have started investing in Indonesian startups, showing a trend that funding and investment growth in Indonesia will increase this year and may last for quite a long time.

The next question that arises is, can this be sustainable? It's okay, if too many investors invest in the wrong startups and fail, especially with unusually high and unreasonable valuations, of course it can trigger the next bubble like what happened in the US and Indonesia in the 2000s.

Update:

Mekar.biz is a program to bring together angel investors and startups, and does not invest directly in startups. Thanks Dondi Hananto for the information.

Disclosure: DailySocial incubated by Merah Putih Inc. and is part of GDP