Tokopedia Enters List of Companies with the Fastest Growth in Asia

An e-commerce startup, Tokopedia, is included in the list of companies with the fastest-growing revenue in Asia Pacific or Deloitte Touche Tohmatsu’s Asia Pacific Technology Fast 500 Index 2020. From Southeast Asia, there are eight corporations that enter.

The index is an annual ranking of the fastest-growing companies in Asia Pacific, in the hardware, software, communications, media, life sciences and clean technology industries. Companies are selected based on the percentage of revenue growth in the fiscal year for three years.

From Southeast Asia, eight companies entered, led by ARB Berhad Malaysia. The information technology (IT) and Internet of Things (IoT) solutions and services provider company was ranked 72nd in Asia Pacific, with a growth of 799%.

In Southeast Asia, Tokopedia ranks second with 608% revenue growth. In Asia Pacific, this unicorn is ranked 94th.

Six other companies in Southeast Asia that are included in the Asia Pacific Technology Fast 500 2020 Index are Blue Wireless (311%), Cresco Data (237%), vKirirom (147%), Ivy Mobile Technologies (132%), Involve Asia Technologies (109%) ), and PatSnap (94%).

Meanwhile, the Asia Pacific ranks first, namely Terminus Technologies. This Chinese software company registered a growth of 17,915%.

Deloitte’s Southeast Asia technology, media and telecommunications industry leader Yang Chi Chih said that the corona pandemic has indeed disrupted business in the past year.

“But it is also fueling digital transformation in Southeast Asia as companies move to respond, recover and thrive,” he said. Deloitte estimates that the transformation towards digital in Southeast Asia will continue. “By focusing on utilizing 5G technology, cloud computing (cloud), and data analysis,” he said.

Company Holds Campaign to Support Coffee Entrepreneurs

Previously, Tokopedia Astri Wahyuni, Director of Public Policy and Government Relations, said that the number of monthly active users had jumped from over 90 million in early 2020 to 100 million late last year.

“The adoption of the use of digital platforms continues to increase,” she said, last month (24/3). Tokopedia has also attracted around 2.8 million new MSME partners who joined the platform in 2020. Currently, the total sales partners are more than 10 million.

Understanding the large number of business actors who have switched to digital during the pandemic, Tokopedia has launched several initiatives. One of them is the #SatuDalamKopi campaign by attracting more than 1,000 coffee entrepreneurs.

The unicorn claims that merchants’ income has increased by more than 2.5 times after participating. Then, make the Tokopedia Nyam feature for food sellers. The number of traders and their transactions are claimed to have tripled during the corona pandemic.

Then, the jumbo startup collaborated with the local government to acquire more than 2,000 new sellers through the Bangga Made Indonesia (BBI) initiative.

The Valuation will be Equivalent to SpaceX if It Merges with Gojek

If Tokopedia and Gojek do merge, the company’s valuation will skyrocket to USD 18 billion (around IDR 263.2 trillion). Its services are increasingly varied, from online shopping, delivery couriers, online motorcycle taxis, to food delivery.

The merger will also not create a market monopoly, according to Research Institute of Socio-Economic Development (RISED) researcher Tegar Rismanuar. Because they still have competitors.

“What is clear is that the merger will increase the valuation and the opportunity to obtain more funds from the stock market in Indonesia. They also intend to take the floor on the American Stock Exchange,” said Tegar, quoted Monday (12/4/2021).

Not only that, but the merger can also expand the business to a wider sector. The valuation also has the opportunity to rise to the level of US$ 40 billion (around IDR 584.9 trillion); almost equivalent to the value of Elon Musk’s SpaceX which has a valuation of US$ 44 billion.

Tegar added, “The result of the merger is likely to further tighten competition. The impact on consumers will be even better.” He explained that the digital economy traffic would also grow if the merger actually took place. It will also break the record where the unicorn entered the Indonesia Stock Exchange (IDX).