From mergers and acquisitions to funding and contests, here is the next edition of the Indonesia weekly review – your weekly dose of the latest happenings from the Indonesian startup ecosystem.
Indonesia’s Kioson Officially Acquires Narindo
The acquisition is part of the company’s post-IPO plan after it began trading on Indonesia Stock Exchange (IDX) last week as the first Indonesian startup to list on the platform.
In a press statement, Kioson Managing Director Jasin Halim stated that the company has acquired 99% shares in Narindo and that it is meant to strengthen its bottom line.
“This acquisition plays a strategic role in strengthening our infrastructure in the region through assets belonging to Narindo. With Narindo’s focus as an e-voucher aggregator, Kioson will be able to maintain the company’s business from the upstream level. We expect that this will secure Kioson’s bottom line,” Halim stated.
Southeast Asian Conglomerates Salim Group And Lotte Group Launches ILOTTE
iLOTTE has been launched as a mobile and desktop platform for leading local and global retail brands. As revealed in media reports, it has been built in form of an online mall, hosting global brands such as Clarins, Shiseido, Audi, Volkswagen, JBL, Canon, Nike, and LEGO.