Jakarta, CNBC Indonesia – Indonesia has many e-commerce platforms. Domestic competition in this industry is quite tight.
It is recorded that the e-commerce sector has been running for around 15 years in Indonesia. There are many that still survive, but quite a few end up closing because they can’t compete in the Indonesian market.
JD.id, for example, which finally closed on March 31 2023. Apart from that, there are also MatahariMall.com and Blanja which have already gone out of business.
Here are 9 e-commerce that finally closed, summarized CNBC Indonesia from various sources:
This company was founded by Telkom in collaboration with e-Bay, a classified advertising giant from the United States (US). Blanja.com officially closed as of September 1 2020.
The closure was due to a strategic change. Blanja.com lasted for 8 years after its name was changed from Plasa.com.
The Indonesian B2B marketplace reportedly closed earlier this year. Elevenia had been operating for dozens of closings before finally closing.
Founded in 2013, Elevenia is the result of a joint venture between XL Axiata and a South Korean company called SK Planet. The result of the joint venture is called PT XL Planet which is Elevenia’s parent company. Four years later, XL Axiata announced plans to sell Elevenia to PT Jaya Kencana Mulia Lestari and Superb Premium Pte. Ltd, belonging to the Salim Group.
Qlapa closed in 2019 because it was unable to survive amidst intense competition with big names such as Tokopedia and Bukalapak Cs. This company, which provides art and souvenir products, operated for four years before closing.
“Almost 4 years ago, we started Qlapa with a mission to empower local artisans. We have experienced many ups and downs on this incredible journey. We are very grateful for all the positive responses from sellers, customers and the media. The support we have received very extraordinary and encouraging,” wrote Qlapa management in a statement on its official website.
This Japanese e-commerce company lasted five years. The company announced that it was withdrawing from the Indonesian market due to a shift in its business model that was not in accordance with its initial concept.
Rakuten entered Indonesia by collaborating with MNC Group. The joint venture company was founded with initial capital of IDR 60 billion.
Photo: Taufan Adharsyah
Cipika is one of Indosat’s efforts to expand its business in the digital sector. Founded in 2014, this e-commerce closed in 2017 along with a number of other Indosat digital business initiatives due to its slow development.
Multiply was originally a social media and expanded its services to e-commerce. This is thanks to the support of Dutch financier Naspers, who is also known to be the main shareholder of Tencent.
In 2011 Multiply Commerce was founded and Multiply’s head office was moved from the US to Indonesia. However, in the end the development of e-commerce was not significant and Naspers stopped the flow of capital and switched to investing in Toko Bagus.
MatahariMall.com was founded in 2015 and eventually changed to Matahari.com. This change ultimately resulted in those previously selling products from third parties becoming selling products from Matahari.
MatahariMall.com is a subsidiary of Lippo Group and Matahari Department Store with a 20% stake in the platform.
JDid courier passes in front of JDid warehouse, Marunda, Jakarta, (31/1/2023). CNBC Indonesia’s monitoring at the location saw a number of couriers climbing the ordered goods into the car. (CNBC Indonesia/ Muhammad Sabki)
8. Nice Shop
Toko Bagus is actually not completely closed. In 2014, the name was changed to OLX, a brand owned by Naspers which has operations in a number of countries.
However, it turns out that it is unable to compete with new players who continue to soar, such as Bukalapak, Tokopedia, and Blibli. Now OLX focuses on buying and selling used cars under the name OLX Autos.
JD.id officially closed on March 31 2023. The platform created by JD.com and a Singaporean equity firm called Provident Capital has lasted 8 years after operating in November 2015 in Indonesia.
Before closing, JD.id had carried out a number of layoffs and closed its logistics services. The closure was due to the reason that JD.com wanted to focus on building a cross-border supply chain network.
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