Kompas Gramedia, Indonesia’s largest media group and bookstore chain, today announced that it has acquired Scoop, an emerging e-book startup. Scoop’s platform will complement Gramedia.com, the flagship e-commerce platform by Kompas Gramedia that sells stationary, household products and books.
Scoop was launched in 2011 by Wilson Cuaca – who is also the founder of venture capital firm East Ventures – as the pioneer of mobile-first company in Indonesia. The company claimed that it has topped both the App Store and Google Play Store, and remains the only top grossing local application in the App Store during its lifespan.
“It has been a long journey for Scoop and team. This acquisition will accelerate the company’s full integration with Kompas Gramedia,” founder and CEO of Scoop, Willson Cuaca, said in a statement.
“The group has been very supportive since its first investment in 2013,” he added.
Kompas Gramedia, through its unit PT Gramedia Digital, invested in Scoop twice before the acquisition, including a Rp32 billion ($2.4 million) funding round in 2013. Scoop also received investments from Gobi Partners and Mitsui Global Investments (MGI).
Andy Budiman, CEO of Gramedia.com, said that both companies have benefited each other for quite some time, and that there is a “clear strategic fit” between the two that will continue improve both platforms in the future.
“Scoop has played an important role in strengthening Kompas Gramedia digital offering in media and commerce,” Budiman said.
Scoop has been downloaded by six million users, who can browse various publication from Indonesia, Philippines, Malaysia, Singapore, Japan, India, Brazil and the UK. It has partnered with 400 publishers regionally and has a library consisting of 50 e-newspaper, 30,000 e-book and 800 e-magazine titles across wide range of category such as business, entertainment, home and design, and fashion, among others.