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Jakarta Post

Controlled by Singapore? BKPM head hurts pride of Gojek, other Indonesian unicorns

  • Rizki Fachriansyah and Rachmadea Aisyah

    The Jakarta Post

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Jakarta   /   Wed, July 31, 2019   /  07:54 pm
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Investment Coordinating Board (BKPM) head Thomas Lembong(The Jakarta Post/Donny Fernando)

Investment Coordinating Board (BKPM) head Thomas Lembong has come under fire for claiming that Indonesia’s four tech unicorns were owned by a Singapore-based holding company. His statement raised more than a few eyebrows among industry stakeholders and members of the public, who have taken great pride in the homegrown unicorns: Gojek, Tokopedia, Bukalapak, and Traveloka. Thomas was referring to a report released by American tech giant Google and Singaporean holding company Temasek, which shows that there were no unicorns – startups valued at more than US$1 billion – in Indonesia. A graph in the report also shows that all four unicorns of Southeast Asia were based in Singapore. “If we look at a study by Google and Temasek on the growth of the digital economy in Southeast Asia, our four unicorns are claimed to be owned [by Singapore]. I was surprised to ...