By Ardi Wirdana
The announcement was made through a post on the company’s Instagram account, in which it admitted that it had been “unable to make Qlapa profitable and sustainable”.
Hadinegoro has taken the company through three funding rounds, raising a total of over $35 million in the space of just over a year.
The launch of its services in Australia marks its first expansion outside Southeast Asia.
Indonesian e-bike sharing startup Migo is facing regulatory challenges just a few months after its launch.
The beauty-focused community startup boasts 2.5 million users on its website and app, and claims to be already profitable.
The Limakilo deal comes just over a month after Warung Pintar announced the completion of its $27.5-million Series B round.
Based on Bank Permata’s current market cap of $2 billion, StanChart’s stake in the Indonesian lender is worth about $891 million.
With a national election looming in April, it remains uncertain if any reform on spectrum transfer can be made in time.
The Singapore-based global food and agri-business said it will pay $90 million for the stake in YTS Holdings Pte, the owner of BT Cocoa.
Football is Indonesia’s number one sport which attracts enormous public interest. However, the country’s premier professional league is currently beset by match-fixing allegations, which has dragged a number of clubs into potential legal trouble