GDP Venture backs Indonesian media startup Kumparan

GDP Venture, through its unit Global Digital International (GDI), has invested an undisclosed sum of money into Indonesian media startup Kumparan. Existing investors also participated in the round.

Kumparan aims to use the fresh funds to expand its tech team, business development apparatus and new offerings to its users and commercial partners.

“GDI has valuable experience in tech and internet. In addition, GDI also has the expertise and network that will accelerate Kumparan’s growth,” said CEO Hugo Diba, in a press statement.

Kumparan claims to be Indonesia’s first hybrid online news site that combines online news with social media concepts. This concept allows users to be news providers. Users can write articles, or create videos, and follow other users’ profiles within the platform. Stories are presented in feeds and timelines just like other social media platforms.

It received its first round of funding – which was also undisclosed – in January 2017.

Today, the company says it has “millions” of monthly unique visitors and has on-boarded several local media outlets into its platform such as prominent business media SWA and multiple East Java-based publications. The team says more media will join Kumparan’s platform in the coming months.

In Indonesia, Kumparan competes with IDN Media, Baca, Brilio, and UC News, among others.

The fact that Kumparan was started by DetikCom founders may have added to its appeal. Those who are familiar with the Indonesian media history know that DetikCom was one of the pioneers in online news, when internet was still new in the country. It was also known as one of the most vocal news sites during Indonesia’s political upheaval of 1998, where series of protests and riots eventually led to the end of President Suharto’s 30-year totalitarian regime. In 2011, DetikCom was bought by businessman Chairul Tanjung for $60 million.

“We’re investing in Kumparan not just because the co-founders are reputable media personalities with combined experience of more than 30 years, but because Kumparan’s concept as a hybrid news provider can be a breath of fresh air for Indonesia’s news landscape,” said GDI representative Jerry Kasung.

“We like the idea in which readers can also participate and interact with other people about different news topics.”

GDP Venture is headed by Martin Hartono, the son of Indonesia’s richest businessman Budi Hartono, who founded the Djarum Group. The VC is an investor of Blibli.com, an online marketplace site which recently acquired online travel agent Ticket.com for an undisclosed amount. It invests in digital communities, media, commerce, and solution businesses.

Also Read:

Indonesia: Media startup Kumparan receives first round of funding

Indonesia: GDP Venture-backed Blibli acquires Tiket.com

Indonesia’s IDN Media raises funds from North Base, East Ventures, others

Tiket.com acquisition strategic for us to minimize cost: Blibli CEO

Indonesia: News platform Baca injects $10m into community site Nulis

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. 
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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.