Blibli Confirms to Reach Unicorn Status

Blibli adds to the list of Indonesian unicorn startups. The news was confirmed by the CEO, Kusumo Martanto in a Mastermind exclusive interview with DailySocial.id.

Martanto said, "Although we have not openly announced any kind of status, our business size has exceeded billions of dollars. Can I say that we have reached unicorn status? Yes. However, as a digital company, we want to create a sustainable company with positive value and impact on society.

Previously, Tiket.com has conveyed the unicorn status, an OTA startup acquired by Blibli in 2017. Tiket.com is reportedly exploring the potential to go public through SPAC COVA Acquisition Corp vehicle. (COVA) with an estimated combined company value of $2 billion.

The following is a complete list of Indonesian unicorn startups – several companies have specifically confirmed its status to DailySocial.id and yet to announced it to the public

Blibli's business map

Under GDP Venture, an investment company owned by Djarum group, Blibli has taken a number of strategic actions towards several startups in Indonesia. In addition to acquiring Tiket.com, they also became investment arm and acquisition vehicle to other startups. This initiative led the Blibli's CEO to a member of the board/commissioner in a number of startups.

In its core business, during the last two years, the company has launched various initiatives. First, strengthening the company's O2O concept, including through BlibliMart services -- which in early 2020 was said to be the second strongest category in Blibli after electronics in terms of order and GMV. They also initiated an offline store, but its expansion was delayed due to the pandemic.

In the late 2020, along with Indodana which is Cermati Fintech Group's subsidiary, Blibli launched a paylater feature to extend the payment channels. Blibli Mitra is also promoted as an effort to collaborate with more MSMEs - as of the end of 2020, it is claimed to have found 16,000 partners with more than 1 million consumers.

This year, the company focuses on several initiatives. First, to capture the used car marketplace trend that continues to skyrocket, Blibli is increasing its collaboration with Garasi.id, its business unit, to serve the needs of buying and selling used cars.

Furthermore, in the era of digital banking, they collaborate with BCA Digital as an exclusive partner. At the initial stage, Blibli users can create blu accounts, make e-commerce payments, and transact via in-app payments.

–Original article is in Indonesian, translated by Kristin Siagian