GDP Venture-backed Blibli acquires Tiket’s sister company Indonesia Flight

Photo by Blibli.com

Blibli.com, an Indonesian e-commerce site backed by Djarum-affiliated GDP Venture, has acquired online travel agent Indonesia Flight for an undisclosed amount to support Tiket.com, according to a report by Tech in Asia today.

Blibli bought Tiket.com back in June – also for an undisclosed sum – in a move aimed to maximize revenues.

Indonesia Flight app was first built using a Tiket API in 2012, selling travel packages from Tiket. It shared one angel investor with Tiket, who sold his Indonesia Flight shares back to its co-founders when Blibli bought Tiket.

“In the discussion about the Blibli-Tiket acquisition, there was no discussion that Blibli will also acquire us. We, the founders, decided to take over our shares and become an independent startup,” Indonesia Flight’s co-founder and CEO Marcella Einsteins said, as quoted by Tech in Asia.

Upon acquisition, the platform will run as usual, although the teams will be merged for “resource efficiency”, Einsteins added.

When Blibli acquired Tiket, both agreed that it would continue operating their own brands upon acquisition. Synergies will be done only where its needed, with Blibli giving its full support to Tiket when it comes to inventory, sales, promotion – including social media penetrations – talent acquisition and team expansion.

Tiket CEO George Hendrata had then said that the acquisition would help it achieve its target of 2 – 2.5 times business growth. There had been rumours circulating that Tiket was going to be acquired by GDP Venture directly instead of being taken over by Blibli. The marketplace site started operations in 2011, and is considered as one of the first e-commerce platforms in Indonesia. Blibli now has 15 product categories ranging from ticket and vouchers, gadgets, electronics, fashion, health and beauty, to sport gears and home decors.

Indonesia is witnessing growing competition in the online travel industry as its biggest players announce their latest manoeuvres. In Indonesia, Tiket competes with OTA giant Traveloka, who raised $500 million from American travel firm Expedia, China’s JD.com, East Ventures, Hillhouse Capital Group, and Sequoia Capital early this year.

Also Read:

Exclusive: Indonesia’s Tinkerlust raises pre-Series A from Merah Putih, angel investor Danny Oei

Indonesia: GDP Venture injects funding into smart city app Qlue

Indonesia: IDN Media raises Series B from East Ventures, Central Exchange

Indonesia: Gobi Partners-backed tour operator Tripvisto shuts down

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.