Asia Digest: Sale Stock to rebrand as Sorabel; travel startup Zuji shuts down


Indonesian fashion e-commerce site Sale Stock will officially change its name to Sorabel from February 6 as it enters the fifth year of its operations.

East Ventures leads $550k seed funding for food ordering app Eatsy

The startup has now raised more than $1 million in funding from investors including East Ventures and Quest Ventures. 

Indonesia to soon introduce regulations for motorbike-hailing services

This move comes amid an ongoing price war between Grab and Go-Jek to grab a bigger share of the ride-hailing market in Southeast Asia’s biggest economy.

Indonesia to introduce new rules for e-commerce to raise tax collection

From April, all operators of online marketplaces will have to detail each seller’s turnover and report this to authorities.

Guest post: Ant Financial puts $40m in Akulaku

The $40 million that Ant Financial is putting in Akulaku is expected to value the company at $450 million.

Indonesia’s Medco Energi could offer $436m for Britain’s Ophir

Analysts have said a deal with Ophir would boost Medco’s valuations and help it gain access to international assets.

Indonesia’s Bukalapak to announce new funding, Naver, Ant Financial likely new backers

The largest shareholder in Bukalapak is Indonesian media giant Emtek, which held a 36.86 per cent stake in the online marketplace as of September 30, 2018.

Fintech startup Akulaku said to be raising $100m Series D round

Potential investors in the round include Chinese internet giant Alibaba.

Indonesia plans to regulate ride-hailing rates in setback for Grab, Go-Jek

The regulations would meet drivers’ demands for more oversight and higher rates but there are concerns that the rising costs to the companies could stifle their development.

People Digest: Tokopedia ropes in former Indonesia minister; OYO hires for global ops

E-commerce unicorn Tokopedia has appointed Agus Martowardojo, Indonesia’s former Finance Minister, as its president commissioner.