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Jakarta Post

Indonesia expects to have two decacorns in 2019: idEA

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, March 15, 2019   /   04:33 pm
Indonesia expects to have two decacorns in 2019: idEA Communications and Information Minister Rudiantara opens the inaugural Nexticorn International Summit Indonesia on May 9, 2018 in Nusa Dua, Bali. (JP/Zul Trio Anggono)

The Indonesian E-Commerce Association (idEA) projects the country will have two decacorns -- start-ups valued at more than US$10 billion -- and more unicorns this year, as indicated by the rapid growth of several start-ups.

IdEA chairman Ignatius Untung said on Friday that ride-hailing company Go-Jek had already achieved the status, and that e-commerce platform Tokopedia was expected to follow.

Ignatius said Go-Jek became a decacorn after receiving several capital injections, including the latest from diversified business group PT Astra International. He added that Tokopedia was currently valued at around $7 billion.

“So Tokopedia has the potential to become a decacorn. But I am not sure if this will be this year or next year,” Ignatius said as quoted by kontan.co.id.

Regarding the birth of more unicorns, Ignatius said that while he could not name the companies, they included a digital wallet (e-wallet) company, an online travel agency (OTA) and a healthcare start-up.

Go-Jek is one of four Indonesian start-ups that were valued at over $1 billion last year, along with Tokopedia, Traveloka and Bukalapak.

Finance Minister Sri Mulyani Indrawati said earlier that Indonesia was considered as an advanced country in Southeast Asia, because it was the birthplace of four of seven unicorns in the region. (bbn)