1. Startups

East Ventures Claims Its Portfolio Contributes 255 Trillion Rupiah to Indonesia's Digital Economy

Comparing with the e-Conomy SEA 2019 report released by Google, Temasek, and Bain & Company

Internal data East Ventures claims the company's portfolio has contributed up to 45% or worth $18 billion (nearly 255 trillion Rupiah) of the total digital economy in Indonesia stated in the e-Conomy SEA 2019 report of $40 billion.

Still comparing from the same report, GMV of E-commerce Indonesia is worth about $20,9 billion (Rp296 trillion). East Ventures portfolio shows a contribution of more than 50% of total GMV E-commerce in Indonesia.

"There are six of our portfolios that contribute to the achievement of GMV E-commerce and it's all here," said East Ventures' Co-Founder and Managing Partner Willson Cuaca while celebrating the 10th anniversary of East Ventures, yesterday (7/10).

The six startups he is referring to are Tokopedia, Sociolla, Shopback, Kudo, Warung Pintar, and Sirclo.

He goes into more detail, in the e-Conomy report, total customers E-commerce in Southeast Asia reached 150 million people. It claims its portfolio has served more than 60% of that figure. This figure comes from the achievements of Tokopedia, as its main contributor.

Other sectors involvedhighlight e-Conomy is an OTA. East Ventures says its portfolio of companies holds a 50% majority share of $10 billion in GMV as stated in the report. Of course, the contributor is none other than Traveloka.

For GMV from sector ride hailing, East Ventures noted Grab contribute half. The 2019 SEA e-Conomy Report records the GMV of ride hailing in Southeast Asia reached $6 billion. When viewed from active users, e-Conomy noted that there were 40 million people in total, an increase compared to 2015 of 8 million people.

Grab not included in the East Ventures portfolio. However, Grab listed as a company that buys portfolios from EV, namely Kudo. Gojek even so, there are counters that have been fully acquired. Both representatives also came on this occasion. Not to forget, Ovo was also present.

"Our internal data also reveals that our portfolio has contributed as much as 26.286" tech talents out of 100 people revealed by the e-Conomy report in Southeast Asia."

This report also shows that the total investment for startups unicorn in Southeast Asia is $24 billion (Rp340 trillion), East Ventures says that 50% of that comes from its portfolio. Its contribution to Indonesia's GDP is 1,5%, successfully empowering 8,5 million MSMEs.

East Ventures was founded in 2009 in Indonesia by Willson Cuaca, Batara Eto, and Taiga Matsuyama. Of the 160 startups that have been funded, 30 startups have already been funded exit. Then the other two startups became unicorn.

A total of 13 startups in the portfolio have been named as candidates unicorn next. they are Ruangguru, IDN Media, Moka, Sociolla, Warung Pintar, Xendit, Waresix, CoHive, 99.co, Fore, Mekari, Ralali, and Shopback.

Signal Ruangguru sebagai unicorn

News Ruangguru menjadi unicorn The next one has been blowing since last year. However, it has not been confirmed until now. Yesterday, the Minister of Communication and Information Rudiantara gave the signal to Belva in the middle speech-New.

"We hope to have another unicorn by the end of this year. Hi Belva [Co-Founder & CEO Ruangguru]," said Rudiantara greeting Belva who was also present at the East Ventures event.

Rudiantara confirmed, his greeting does not mean confirming that Ruangguru is unicorn next, but only as a signal considering that the opportunities in the education sector are quite large.

The reason is that the government has a budget of Rp500 trillion for the development of education next year. Meanwhile, the health budget is Rp. 100 trillion.

More Coverage:

"We have four unicorn, one decacorn. I have paid off my debt, even I hope the end of the year there will be more [unicorn]. I didn't say the company, but the one with great potential is here edutech."

"But who are the startups that become? unicorn depend on investors (venture capital)," he continued.

Four unicorn he meant Tokopedia, Bukalapak, Traveloka, and Ovo. One decacorn is Gojek. Rudiantara admitted that Ovo had confirmed it directly to him.

On the same occasion, Belva admitted that the company was actually raising Series C funding. However, he refused to comment whether this funding would lead him to unicorn status. "Just pray," said Belva curtly.

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