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DailySocial Indonesia S Tech Startup Report 2016 PDF
DailySocial Indonesia S Tech Startup Report 2016 PDF
DailySocial Indonesia S Tech Startup Report 2016 PDF
Investment Landscape
2016 Funding Overview
Investment Trends in 2017
Startup Landscape
2016 in startup ecosystem
On-Demand Services
E-Commerce
Fintech
Issues & Prediction
DailySocial.id is Indonesia’s fastest growing tech blog that focuses on
tech scene, with the sole objective of helping both local and foreign
Research Team
charted an impressive economic growth since overcoming the Asian financial crisis in the
late 1990s. The country’s gross national income per capita has steadily risen from $560 in
2000 to $3,374 in 2015. The GDP in 2015 has reached about $861.934 billion.
• According to a Boston Consulting Group (BCG) Report (2013), Indonesian’s middle and
affluent class (MAC) is set to double by 2020, reaching up to 141 million, with more than 9
million people are likely to enter the middle consumer class for each year.
• In 2015, the UN estimates the population in Indonesia will exceed by 270 million in 2025 and
290 million in 2045. The median age of the population is around 28 year old with 28.1% of
the population aged up to 14 year old and 16.9% between 15 and 24.
Source: Oxford Business Group, The Report Indonesia 2017; World Bank; BCG Report 2013
Internet
and Mobile
Market
Overview
Internet & Mobile Market
• In 2016, Indonesia’s internet users have reached around 132.7 million, a
51.8% increase from 2014 with:
Desktop
1.7%
Internet Access
• According to Akamai’s State of
the Internet Q3 2016 Report,
Indonesian’s internet speed
(IPv4) ranks the 63rd globally
with average speed of 6.4 Mbps,
a 115% increase compared to the
same period in the previous
year.
2.2% 1.6%
0.9%
University Cyber Cafe
Coffee Shop
Facility (warnet)
grow to 14%
Source: Ericsson
Ice Cream
Android as
Nougat
Gingerbread Sandwich 2.07%
and under 3.15%
3.73% Honeycomb
1.16% Favorite Platform
• Android is the most popular platform for
smartphone in Indonesia. According to
Statista’s compilation, in July 2016, Android
holds 70.80% of country’s mobile operating
Marshmallow Lollipop
14.18% 31.51% systems market share.
• In Q4 2014, Baidu found out that 80.10 % of
Indonesian consumers use older OS version
than 4.4 (KitKat). This number had dropped
Jelly Bean
19.90% to 59.20% in Q2 2015.
KitKat • Based on DailySocial’s Android Behavior
24.30%
Survey 2016, respondents who still use
Android 4.3 (Jelly Bean) or older are
accounted at 27.94%.
Source: Statista; DailySocial Survey on Indonesia’s Android User Behavior 2016;
Baidu Data, Indonesia User, 2015
Time Spent (per Day) by Device
68 minutes 68 minutes
using web browser using apps on
on smartphone smartphone
52 minutes
using web browser
on computer
Instagram 66.70%
Twitter 28.00%
Path 26.00%
• According to JakPat Survey on
Google+ 18.50% Social Media Trend in Q3 2016,
• Like in China ten years ago, those that invest in ecommerce early
goldmine in SEA.
Source: eCommerceIQ
E-Commerce Estimates for 2025
E-Commerce
E-Commerce E-Commerce %
Country Population GMV per
GMV of total Retail
Capita
Source: eCommerceIQ
Popular E-Commerce Brand
Source: Google Indonesia Q3 2016
#1 #2
#3 #4
#5
User Experience
in E-Commerce
14.20%
7.50%
7% 9%
6%
lending in Indonesia.
• Indonesia has seen the raise of its first unicorn, when Go-Jek secured $550 million
investment.
• Alibaba acquired Lazada for $1 billion, MatahariMall received fresh $100 million funding
round, Jualo secured investment twice in a year, and Tokopedia is rumored to raise
another round.
• Roughly, there are 104 investment activities in 2016, directly or indirectly. These
activities include activities of local capital owners investing in foreign startup,
investment in foreign startup which has been already operating in Indonesia, and
investment in foreign startup that will expand to Indonesia.
Local Investor List
Source: DailySocial, Tech in Asia, Crunchbase
Local: Fabelio
Venturra Capital Corporate VC Indonesia
Foreign: iPrice Group, Carro, kFit
Local: HaloDoc
Startup
Blibli Indonesia
Company
Foreign: -
Local Investor List
Source: DailySocial, Tech in Asia, Crunchbase
Local: Blanja
Strategic Investment
Telkom Metra Indonesia
Company Foreign: -
Local Investor List
Source: DailySocial, Tech in Asia, Crunchbase
Local: elevenia
XL Axiata Telco Company Indonesia
Foreign: -
Local: -
Celebes Capital Venture Capital Indonesia
Foreign: Jirnexu
Farallon Capital
Venture Capital USA Local: Go-Jek
Management
Golden Gate Ventures Venture Capital Singapore Local: Alodokter, Jojonomic, Gadjian
IMJ Investment Partners Venture Capital Singapore Local: Asmaraku, Fabelio, Orori
Korea Investment Partner Private Equity Firm South Korea Local: Cashtree
Susquehanna International
Finance Firm USA Local: Jualo
Group (SIG)
Startup Investor
GDILab Undisclosed
Orami Undisclosed
Conversion8 Undisclosed
Pinjam Undisclosed
PicMix Undisclosed
Angel Investor
• 8 local angel investors detected in 2016 and one of
them is ANGIN (Angel Network Indonesia).
Investor Funding in
Round Undisclosed
• In 2016, there are 71 18%
U.S.) by KinerjaPay
Source: DailySocial, Tech in Asia, Crunchbase Pre-Series A
7%
Job Portal
2016 Local Tech IoT
1%
Supply Hospitality
1% Marketing Chain
Investment: Crowdsourcing
1% 1%
1%
Event Service
Sector 3%
1% Music
3%
• By the sector, Education
3%
e-commerce, fintech Social Media
3% E-Commerce
and on-demand
Edu Tech 21%
services remains as the 3%
most attractive sector
HR SaaS
for capital owner 4%
Game
• In e-commerce side, 4% Fintech
20%
we have seen more Agriculture
4%
players double down
Analytics
the investment such as On-Demand
4%
13%
MatahariMall, elevenia, Online Media
4%
Jualo, and Blanja. Medical
5%
Source: DailySocial, Tech in Asia, Crunchbase
2016 Local Tech Investment: Q1-Q4
Most Indonesian startup snatched
investment in Q2 2016, with 29
activities detected.
29
19
14
9
Q1 Q2 Q3 Q4
Source: DailySocial, Tech in Asia, Crunchbase
Most Active Local Venture Capitals
With 7 activities announced, 4 investments
6 6
3
2 2
1 1 1 1
Largest Investment News in 2016
Secured by Go-Jek, the biggest received by local startup in 2016, establishing
$550 M Go-Jek as Indonesia’s first unicorn. In addition, Go-Jek biggest competitor Grab
also secured Series F funding worth of $750 M.
E-Commerce, 10%
Investment
Trend in
Fintech,
2017 SaaS, 20% 60%
$45 M
Unitus Impact SEA and India
[$500.000 - $2 million/company]
• Double the
• First Unicorn • Exploding!
Investment
On Demand Service (1)
• Following $550 million blockbuster investment lead by KKR & Co and Warburg Pincus in
August 2016, Go-Jek continue to build platform to facilitate “Anything On-demand”, like
Go-Car, Go-Auto, Go-Tix, Go-Med, and Go-Pulsa. In total Go-Jek manages 14 verticals.
Go-Jek’s major move is the development of its own mobile wallet, Go-Pay, to facilitate
the payment.
• Go-Jek’s leading service, Go-Food, established as market leader for food delivery service
and leaving FoodPanda and Klik-Eat behind. FoodPanda Indonesia closed its service in
October 2016.
Carijasa, Tukang, Monolia, and others come to surface in 2016 to provide similar services,
2016, HaloDiana was shut down on April, while YesBoss pivots to B2B model and
• A new chatbot service named BangJoni launched in June 2016. The service can be
accessed from popular messaging app, like Telegram and Line. BangJoni provides
many on demand services, like phone credit top up, travel, concert, airplane, taxi,
YesBoss’ decision to pivot, the nearby future should be focused on B2B market, not
B2C.
Fintech Services (1)
• Since the establishment of Indonesia Fintech Association in September 2015, the
growth of fintech players for the past year reached 78% with around 140 fintech
player detected by the end of 2016. 43% of them are in payment sector.
• On regulator side, both Bank Indonesia (BI) and Financial Services Authorities (OJK)
launched many initiatives to secure fintech ecosystem, such as POJK, PBI PTP, and
• The most popular fintech sector is peer-to-peer lending and payment, with OJK
o Compare88, parent company Cek Aja, secured Series B funding from Telstra,
o Cicil, iGrow, and Eragano secure undisclosed seed funding lead by East Ventures,
than the original which is $88 billion estimated for all six SEA markets
combined.
segment
E-Commerce (2)
• Notable investments in e-commerce services:
2016, the regulation still in way to catch up the growth. Still, the
government shows good sign that they will help the ecosystem
• Series A founders are easier to get another funding round, since they
come up with strong business model and good traction.
Merger and Acquisition (1)
• With five acquisitions, Go-Jek highlighted M&A movement in
2016:
o Moxy and Bilna merged into MoxyBilna in January 2016 and rebranded