Indonesia’s digital economy continues to flourish. The country’s gross merchandise value (GMV) is expected to grow from $40 billion in 2019 to $124 billion by 2025, making up a large portion of Southeast Asia’s projected $310 billion GMV that year, according to the e-Conomy SEA 2020 report by Google, Singapore state investor Temasek Holdings and business consultancy Bain & Co.
The country, with the second-highest number of unicorn start-ups in the region, also absorbed the biggest share – namely 45.8 percent – of the US$2.7 billion in fundraising deals booked in the region as of the second quarter last year, DealStreetAsia data shows.
So far, five Indonesian start-ups are valued at more than $1 billion and are as such considered unicorns: ride-hailing company Gojek, travel booking firm Traveloka, e-commer...
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