Sirclo, an E-commerce Enabler Merged with Icube
Sirclo, a startup e-commerce enabler from Indonesia merged with Icube. Icube is a company that provides techno-solutions for e-commerce, specifically ones serving retail businesses in Indonesia.
The merge between Sirclo and Icube brings together thousands of clients from various business scales and aims to unite the strengths of both to help more MSMEs and large-scale brands that require an effective and efficient digital transformation in the e-commerce realm.
The role of e-commerce increasingly feels important and relevant, especially amid the COVID-19 pandemic. Many people relied more on online platforms such as e-commerce in buying and selling due to physical distancing protocol.
The innovation of integrated and reliable e-commerce technologies and solutions is very important during time like this because it can be the key for business owners and brands that rely on online sales.
Sirclo realized that the acceleration of business growth is important. It’s to help more MSMEs and brands to survive during the pandemic. Sirclo’s CEO and Founder, Brian Marshal, and Icube’s Founder and Managing Director, Muliadi Jeo, have known each other for a long time.
Brian proposed a merge between Sirclo and Icube with the aim of creating a more developed and integrated e-commerce ecosystem in Indonesia. In addition, he also hopes that this merge will improve the capabilities of the e-commerce business. Broader markets and more integrated services were targeted by the merge.
He also explain that they want to continue providing the best solutions and services through their platforms to help people develop business online.
Brian also explained that the company is always open to opportunities to improve their capabilities. Sirclo saw the potential to merge with ICUBE, that with the strength of these two companies, they are able to reach a more comprehensive and larger scale of markets.
Both Companies Merged at a Perfect Timing
Muliadi explained that using their services, the company want to accommodate more clients from various types of business. Sirclo was deemed as a strategic partner for ICUBE to achieve that goal. Both companies can create a prime e-commerce ecosystem using their innovations.
Brian admitted they took the perfect moment to merge with ICUBE. Sirclo and Icube will receive additional resources to serve more MSMEs and brands during the pandemic.
The merged between these companies will bring together more than 450 employees. However, In this merge, ICUBE will be continuing their operation as an independent company which will be integrated with Sirclo’s services.
Leontius will take a new position as a Chief Product Officer (CPO) of Sirclo, while Muliadi Jeo from Icube will replace Leontius Adhika Pradhana as Chief Technology Officer (CTO).
Pandemic Securities, Transactions in E-commerce are Boosted
Different from before, e-commerce enabler Sirclo reported that there was an increase in demand for food and beverage (F&B) products in Indonesia, which reached 143 percent from February to March 2020.
Products such as instant drinks, packaged juices, and milk, experienced the highest increases. This is followed by food packaging products that are durable, such as biscuits, sauces, and snacks.
Health and sanitation products such as hand sanitizers, hand soap, wet tissue, and vitamins experienced the highest increase in purchases in February. The four products listed above experienced a surge in purchases of more than 100 percent compared to sales in the previous months.
“Since the Covid-19 pandemic, the phenomenon of moving to online transactions has not only occurred in Indonesia, but also throughout the world,” said SIRCLO Chief Executive Officer and Founder Brian Marshal last April.
Sirclo also revealed that the surge in purchases of food and beverage products continued through April. Total online purchases until the second week of April have recorded 1.5 times that of February.
The company predicts that growth in online F&B purchases from February to April will reach 261 percent.