Telunjuk Acquired by a Subsidiary of PT Diamond Food Indonesia
Around 81% of Telunjuk's shares acquired; as part of a strategy to increase product distribution in e-commerce and digital transformation
Randi Eka - 23 December 2021
PT Diamond Food Indonesia Tbk. (Diamond) as one of the FMCG companies in Indonesia officially announced its acquisition of PT Telunjuk Komputing (Telunjuk). It was stated in the disclosure as of December 21, 2021 through the Company's subsidiary, PT Sukanda Djaya, the company had signed a conditional share purchase agreement for 81% of Telunjuk' shares.
Telunjuk's acquisition is expected to bridge Diamond's strategy to increase product distribution in the e-commerce channel and carry out digital transformation. First established since 1974, Diamond manufactures and markets a wide range of fresh beverage and instant food products. It invloves milk, juice, cheese, ice cream, and others.
Was founded in 2012, Telunjuk is present as a platform for product recommendaton and price comparison in e-commerce. However, as day goes by, they had a business model targeting the B2B segment. In an interview with DailySocial.id, Telunjuk's Co-Founder & CEO, Hanindia Narendrata said that this way the company claims to be able to earn enough profit to run the company.
For business players, the services provided are in the form of market insight that can help companies analyze market dynamics. "Initially, we received an offer from a big brand who wanted to see price estimates on various e-commerce platforms in Indonesia. Then, we explored with the crawling engine we already had and the data that had been collected. It was ideal for us to present this service and the demand turned out to be quite large among brands," Hanindita said.
In 2020, Telunjuk also launched the "Compas", the e-commerce market insight dashboard to facilitate more online entrepreneurs to develop their businesses. Through Compass, users can see online market share data summarized from four e-commerce players, such as Tokopedia, Bukalapak, Shopee, JD.id and others; price monitoring, placement health check, and promo monitoring.
Aside from Hanindita, Telunjuk was also founded by Redya Febriyanto. In terms of funding, they have secured the series A stage. There are a number of investors involved, one of which is Venturra Discovery.
–Original article is in Indonesian, translated by Kristin Siagian