MAROKO133 Breaking startup: GoTo hits first profit 💰, TikTok expands its reach 📱, AI power

📌 MAROKO133 Eksklusif startup: GoTo hits first profit 💰, TikTok expands its reach

Dear subscriber,

Indonesia’s digital economy is entering a new era of maturity and innovation. Local champions like Blibli and GoTo are proving that profitability and sustainable growth are achievable, while FORE Coffee sustained steady growth and Bukalapak continued its path toward operational maturity in 9M 2024. The government and private sector work hand in hand to restore trust in the startup ecosystem through initiatives like ReSTART. Momentum is also building around digital transformation—from the upcoming launch of the Digital Rupiah to TikTok’s expanding influence and the global rise of AI leaders like Nvidia and OpenAI. As Indonesia strengthens its digital infrastructure and develops homegrown AI talent, the focus is shifting toward long-term resilience, transparency, and impact.

🚀 ReSTART: Reviving Indonesia’s Digital Economy is coming to Medan! Join DailySocial, Komdigi, and Garuda Spark Innovation Hub for an inspiring session on how to rebuild a stronger, ethical, and impact-driven startup ecosystem for Indonesia’s digital future. 

🔗 Register now at s.id/gsihmedan

Best regards,
The DailySocial Team

What’s New

Blibli’s Strong Q3 Momentum

PT Global Digital Niaga Tbk (Blibli) recorded a 32% year-on-year increase in consolidated revenue in Q3 2025, reaching Rp 5.64 trillion, while the nine-month total grew 26% to Rp 15.24 trillion. This growth was largely driven by higher sales of smartphones and consumer electronics, two key segments of Indonesia’s e-commerce market. Blibli’s take rate rose from 6.7% to 8.4%, showing stronger profitability, while operating expenses as a share of total transactions dropped to 7.2%, reflecting better efficiency. The company also expanded its offline presence by adding 13 new electronics stores and enhancing its omnichannel loyalty integration. For Indonesia’s digital economy, Blibli’s progress demonstrates how homegrown e-commerce platforms can scale sustainably and move closer toward long-term profitability.

GoTo Reports First Pre-Tax Profit and 21% Revenue Growth

GoTo Group reported its first adjusted pre-tax profit of Rp 62 billion in Q3 2025, with net revenue rising 21% year-on-year to Rp 4.7 trillion. Total gross transaction value (GTV) surged 43% to Rp 102.8 trillion, while annual transacting users in Indonesia reached 61 million. The company also raised its full-year adjusted EBITDA guidance to Rp 1.8–1.9 trillion, underscoring progress toward sustainable profitability. This milestone highlights the continued maturation of Indonesia’s leading tech ecosystem—not only in user scale but also in financial performance. For investors and the startup community, GoTo’s achievement strengthens confidence in Indonesia’s capacity to build profitable, scalable digital enterprises.

FORE Coffee (PT Fore Kopi Indonesia Tbk) – 9M 2025 Summary

During the nine-month period ending September 30, 2025, PT Fore Kopi Indonesia Tbk demonstrated stable operational growth supported by prudent financial management and store expansion. The company maintained healthy liquidity while fulfilling all loan covenants with Maybank Indonesia, including a musyarakah financing facility of up to Rp 30 billion for store development. Interest expenses totaled approximately Rp 1.6 billion, reflecting ongoing financing activities to support outlet expansion and operational efficiency. The company’s capital structure remains solid, with Fore Holdings Pte. Ltd. retaining a majority ownership of around 78.9%, underscoring investor confidence in Fore’s business model. Overall, Fore continues to strengthen its retail network and brand position in Indonesia’s competitive coffee market while maintaining sound financial discipline.

Bukalapak (PT Bukalapak.com Tbk) – 9M 2024 Summary

Based on Bukalapak’s Q3 2024 interim financial report, the company recorded a net loss of Rp 593.2 billion — a notable improvement from Rp 784.1 billion in the same period of 2023. Revenue grew modestly by 1.8% year-on-year, from Rp 3.34 trillion to Rp 3.40 trillion. Despite the slow topline growth, the sharp reduction in losses indicates that Bukalapak’s path to profitability is accelerating, supported by tighter cost control and higher financial income (up from Rp 569 billion to Rp 784 billion). These results suggest that Bukalapak’s focus on efficiency and asset optimization is delivering measurable progress, moving the company closer to breakeven and strengthening its operational resilience in Indonesia’s competitive e-commerce market.

What’s Exciting

ReSTART: Rebuilding Indonesia’s Digital Trust and Entrepreneurship

DailySocial, in collaboration with the Ministry of Communication and Digital Affairs (Komdigi) and Garuda Spark Innovation Hub, launched the ReSTART initiative on October 28, 2025, in Bandung as a movement to revive confidence and entrepreneurship in Indonesia’s digital ecosystem. The program aims to rebuild the industry around strong business fundamentals rather than valuation hype…

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📌 MAROKO133 Breaking startup: Lincah acquires Orderfaz. 🤝 BPJS eyes global AI infr

Dear subscribers,

As we enter the final month of 2026, Indonesia’s startup and digital ecosystem continues to move at full speed. Strategic milestones — from IPOs and M&A activity to regional expansion — have shaped the headlines over the past week. To help kickstart your week, we’ve curated the key highlights for you in this issue.

We are also pleased to invite investors — including VC, PE, and angel investors — to Garuda Sparks’ Lunch and Launch, featuring pitching sessions from 10 selected high-potential startups. The event will take place on Thursday, December 4, 2025 at 10:00 AM at GSIH fX Sudirman, Jakarta.

More information and registration for investors: https://luma.com/gt784e9e

Stay ahead,
DailySocial Team

🚨 What’s New

Here are several key updates from Indonesia’s startup ecosystem over the past week:

• Lincah has acquired Orderfaz to strengthen its social commerce infrastructure across Southeast Asia, integrating Orderfaz’s technology and seller base to build a more unified regional ecosystem and accelerate growth for creators and social entrepreneurs. Lincah currently powers more than 23,000 sellers and 8.3 million buyers across major social platforms with over 500,000 monthly transactions, while Orderfaz is a platform providing tools for order management and social selling enablement for online merchants. The acquisition supports expansion from Indonesia toward Malaysia, supported by an experienced leadership team and long-term regional strategy. [Read more]

• Superbank — the digital bank formed through a collaboration between Grab and Emtek — has officially entered its IPO phase, targeting to raise over Rp3 trillion by offering up to 4.40 billion new shares priced between Rp525–695 during the 25 November–1 December 2025 book-building period. The funds will be used mainly to support lending expansion (70%) and operational investment (30%). Superbank is expanding digital financial products such as Saku, Celengan, and competitive deposit services, aiming to strengthen its position in Indonesia’s digital banking landscape through its upcoming BEI listing scheduled for 17 December 2025. [Read more]

• INDODAX, Indonesia’s largest crypto exchange, has announced a major strategic partnership with Hong Kong–licensed digital asset exchange HashKey to strengthen the national crypto ecosystem. The collaboration focuses on improving liquidity, upgrading trading infrastructure, and enabling technical integration, paving the way for innovations such as Real-World Assets (RWA). Both companies emphasized aligned commitments to regulation and user security, with HashKey viewing Indonesia as a key regional market due to its fast-growing crypto user base. The phased execution is expected to deliver faster, safer, and more reliable trading experiences while reinforcing Indonesia’s role in the Southeast Asian digital asset landscape. [Read more]

• TOCO, a community-based e-commerce platform founded in 2024 by Arnold Sebastian Egg (Founder Tokobagus, acquired by OLX), is rapidly attracting sellers by rejecting the subsidy-driven “burn money” model and eliminating admin fees for merchants. Instead of taking 8–38% platform cuts like major marketplaces, TOCO charges a flat Rp2,000 per transaction to buyers—referred to as a “parking fee”—covering logistics and payment processing. This pricing approach, combined with frustration over rising admin fees at platforms such as Shopee and Tokopedia, has triggered a wave of organic seller migration, helping TOCO reach over 1 million monthly active users and 3.4 million product listings without any marketing spend. [Read more]

• BPJS Ketenagakerjaan is exploring investment opportunities in global AI infrastructure companies, including those in the U.S., Taiwan, Japan, and South Korea, as part of a strategy to diversify its portfolio and tap into the rapidly growing AI supply chain sector. Managing Rp879 trillion in assets, the institution has requested approval to invest up to 5% overseas, focusing on data centers, energy providers, and cable network companies rather than core chipmakers—though options like Nvidia remain under consideration. The initiative awaits government regulatory clarity and hinges on rupiah stability, while BPJS also targets doubling domestic equity allocation to 20% over the next three years. [Read more]

👏 What’s Exciting

Here are several noteworthy industry developments from the regional landscape:

• Malaysia is preparing to ban social media access …

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