Amid the humanitarian crisis of Covid-19, Indonesia has discovered a silver lining. Digitization of traditional offline businesses is accelerating in the shadow of the pandemic.
E-commerce companies like Gojek, Grab, and Shopee have been pouring resources into the country’s large and growing market, finding new ways to deliver value for merchants and consumers while attracting investment from global tech players.
Gojek, Indonesia’s first unicorn, is a case in point. As the pandemic has been raging this year, Gojek raised another $1.2 billion dollars from well-known investors, including Facebook and PayPal, seeking to tap into the fast-growing market.
Gojek’s valuation is now said to have reached $10 billion, according to CB Insights, with operations that currently span Vietnam, Singapore, Thailand and the Philippines. From