Indonesian unit of Chinese e-commerce giant JD.com claims unicorn status: Report

REUTERS/Aly Song/Files

JD.ID, the Indonesian operation of Chinese e-commerce major JD.com, has claimed to have surpassed the $1 billion valuation mark, which makes it the sixth unicorn to be borne out of Southeast Asia’s biggest market, Daily Social reported.

According to local news outlet Tempo, which also claims to have received confirmation from a JD.ID management member, the e-commerce company actually reached a valuation of $1 billion last year.

An email sent to JD.ID did not elicit any response.

The news comes in following reports of an investment made by Indonesian ride-hailing giant Gojek into JD.ID in exchange for a stake in the e-commerce firm, whose parent company is a shareholder of Gojek.

As first reported by DealStreetAsia in August 2018, Gojek had been in talks with Chinese e-commerce giant JD.com to acquire a stake in the latter’s finance and e-commerce operations in the country.

JD.com. earlier in 2018, was reported to have invested $100 million in the Indonesian Gojek’s latest $1.5-billion funding round.

JD.com’s unicorn status sees it join Indonesia’s two homegrown unicorn marketplaces – Bukalapak and Tokopedia.  The e-commerce space however, is filled with highly-valued and heavily-backed foreign companies such as Singapore headquartered e-commerce firms Lazada and SEA’s unit Shopee, who have significant operations in the country.

Indonesia’s other three unicorns are Gojek, online travel agent Traveloka, and payment startup OVO.

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.

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.