Indonesia used goods platform Jualo to hire CTO, targets $300m sales via organic growth

founder of Jualo Chaim Fetter - Photo by Vincencia NLS

Fresh from a fund-raising and a key top deck hire, Indonesia’s e-commerce marketplace for used goods, Jualo, is targeting $300-million in revenues in a market where internet users are largely social media-driven.

Launched in January 2014, the customer to customer (C2C) marketplace claims to be the second largest marketplace for used goods in Indonesia. Jualo secured Series A investment, in the “multi-million dollar” bracket, in a round led by NSI Ventures with participation from existing investor Alpha JWC Ventures.

At the same time, it has appointed the founder of Tokobagus (now OLX Indonesia) Remco Lupker to take the e-commerce marketplace to pole position going forward.

Lupker started Tokobagus with Arnold Egg (now CTO at Lippo Group) in 2007 when the market had five established players. Under his direction, Tokobagus emerged the top brand for online shopping in 2012. That same year he exited the company.

In an interview with DEALSTREETASIA, Jualo founder Chaim Fetter says that he is optimistic about the growth potential of the company as well as Indonesia’s e-commerce story. “There are still many internet users who are only active in social media, and are yet to make transactions through marketplace,” Fetter says, about the challenging environment in the country.

Edited excerpts:-

Can you tell us about your journey so far?

I built Jualo with my childhood friends, who I know from elementary school. We used our own money from the beginning and put $150,000 into the project because we believed in it. In April last year, we sought our first investment from Mountain Kejora and Alpha JWC Ventures. Eight months later, we raised a series A funding from NSI Ventures and Alpha JWC Ventures.

What is your next step?

First, we want to create balance (reserves). We need to build our team and we are in the process of picking a CTO (chief technology officer). At this moment, we have 15 employees. We are using our marketing expenses very efficiently and mainly focussing on organic growth. We are looking to generate lot of traffic. The investment will finance talent acquisition and expansion to other regional countries such as the Philippines, Vietnam, Thailand and Malaysia.

What are your views on the prospects of e-commerce market?

In 5-7 years, there is no dominant player in the e-commerce marketplace. Almost 90 per cent Indonesian users use social media. To get them through social media and do a transaction using the e-commerce platform is the next step.

Do you have a target for this year?

Now, we have 2 million users per month. In January, our total sales through Jualo reached $15 million, from mostly cars, automobile and motorbike.  Most of them do the transaction on the marketplace. We facilitate buyers and sellers to meet at the platform.

Is that true that you expect your sales to reach $200-300 million this year?

That’s our hope. Let see. Now, we generate sales of $15 million for month and it is going up every month.

What do you think about the government’s policies on e-commerce business?

I think it is really good and will have a positive effect on the economy because now foreigners can help build digital businesses in the country.

Also Read :

Indonesia: Tokobagus founder Remco Lupker joins online shop Jualo

Indonesian e-classifieds marketplace Jualo raises seed funding

Singapore Reporter/s

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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.