📌 MAROKO133 Update startup: GoTo Finds Profit 💰, Ojol Gets a Floor 🛵, TikTok Comes
Dear subscriber,
This week’s edition lands at a fascinating inflection point for Indonesia’s digital economy. The story that ties almost everything together is that the era of growth-at-all-costs is officially ending and the platforms that built durable businesses are finally being rewarded for it. The signal across all of them is the same — Indonesia’s digital economy is maturing into something more disciplined, more regulated, and finally, more profitable.
On July 1–2 at AXA Tower – Kuningan City Grand Ballroom, Jakarta, B2B Tech Asia Expo 2026 returns with a sharper, sector-first format: 10 specialized industry zones built around finance, logistics, healthcare, retail, enterprise IT, and beyond — each designed to connect the right buyers with the right solutions. Hosted by VRIGroup and DailySocial, with sponsors and exhibitors including AWS, Salesforce, SoftBank, SMBC, Jenius, Mekari, and Zoho, it remains Southeast Asia’s largest expo built exclusively around B2B software.
Find your zone. Meet your buyer. Register now at b2btechasia.com.
Stay ahead,
DailySocial Team
🚨 What’s New
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Danantara Eyes a GoTo Position as Jakarta Rewrites Ride-Hailing Economics.
One of the most strategically loaded moves of the year is unfolding quietly. Indonesia’s sovereign investment body Danantara is reportedly evaluating an investment in GoTo, in a context that’s been completely reshaped by Presidential Regulation 27/2026 — which caps platform commissions at 8% (down from 20%), routes 92% of fares directly to drivers, and mandates insurance and BPJS coverage. Coordinating Minister confirmed the policy on Labor Day (May 1, 2026), framing it as a worker-protection priority co-designed with driver organizations. GoTo says it is reviewing the impact and coordinating with partners and customers, mirroring Grab’s posture. The market read is simple: with margins structurally compressed, only platforms that can scale efficiency, cross-sell into higher-margin verticals, and play the long game will be worth backing — and Danantara appears to be doing exactly that calculus.
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Bukalapak’s Q1 Quietly Looks Like a Real Turnaround.
Bukalapak posted Q1 2026 revenue of IDR 2.37 trillion, up 63% year-on-year, with positive contribution margin of IDR 98 billion and adjusted EBITDA of IDR 24 billion. Net profit came in at IDR 424 billion, supported by IDR 16.43 trillion in cash and liquid investments as of March. The growth engine has clearly shifted: Gaming, Mitra, and Investment are doing the heavy lifting while the core Retail segment continues to feel the squeeze from softer consumer spending. For a company that spent years being defined by its struggles, this is the strongest signal yet that the new business mix is actually working.
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eFishery Saga Closes with a 9-Year Sentence.
The Bandung District Court sentenced former eFishery CEO Gibran Huzaifah to 9 years in prison and a IDR 1 billion fine (with a 190-day subsidiary sentence) for financial statement manipulation and money laundering. The verdict came in lighter than the prosecution’s 10-year request, but it brings formal legal closure to one of the most consequential governance failures in Indonesian startup history. Gibran’s two co-defendants, Angga Hadrian Raditya and Andri Yadi, were tried alongside him. Beyond the courtroom, the case will keep shaping how investors approach due diligence and reporting standards for Indonesian growth-stage companies for years to come.
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MNC Digital Files for a Hong Kong Listing.
PT MNC Digital Entertainment Tbk (MSIN) submitted its A1 application for a secondary depository-receipts listing on the Hong Kong Stock Exchange on April 27, 2026, aiming to tap global liquidity and accelerate expansion of digital content products like its V+ Short platform. The advisory line-up reads top-tier: CICC as sole sponsor, Latham & Watkins on legal, EY as reporting accountant, and BNY Mellon as depository bank. With this filing, MSIN becomes the second Indonesian company chasing an HKEX listing this year, following Merdeka Gold Resources, though final approvals are still pending. It is another quiet sign that Indonesian issuers are starting to view Hong Kong — not just Jakarta or New York — as a serious capital-raising option.
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VIVA Apotek Acquires Farmaku in a Pharmacy Retail Roll-Up.
PT Sumber Hidup Sehat (VIVA Apotek) signed a conditional agreement on April 10, 2026 to acquire 100% of Farmaku, adding 10 outlets and bringing the network to 125 stores across 44 cities and regencies. With Farmaku contributing roughly IDR 110 billion in annual revenue, the deal is positioned as an omnichannel and distribution-efficiency play, with CEO Haryanto Winata pointing to technology and infrastructure integration as the long-term value driver. In a fragmented pharmacy retail market, expect more of these tuck-in deals as scaled players race to lock in both physical and digital supply chains.
👏 What’s Exciting
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DAUN Farm’s Mojorejo Pilot is a Smart Bet on Where Premium Agriculture Actually Gets Sold
DAUN Farm, the smart agriculture business under DS Group, is preparing to launch a greenhouse melon pilot at Malang Strudel Group’s flagship Mojorejo destination, turning one of Malang’s busiest culinary-tourism stops into both a distribution channel and a demand-generation engine. The economics look credible: precision-controlled greenhouses producing Grade-A melon with up to four harvest cycles a year (versus 1–2 conventional), 70% better water efficiency, and direct farm-to-consumer sales that bypass the quality-consistency and trust gaps that hav…
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🔗 Sumber: dailysocial.id
📌 MAROKO133 Breaking startup: Stockbit Hold Strong 💹, Robinhood Eyes the Door 🚪, o
Dear subscriber,
This week’s edition is packed with signals that Indonesia’s digital economy is maturing. From retail investing platforms hitting new milestones to Fore Coffee proving that premium consumer brands can scale profitably beyond the big cities, the momentum is real and broad-based. We also look at Bank Jago’s continued rise as a digital banking compounder, Robinhood’s move into Southeast Asia, and a landmark sovereign investment platform that puts Indonesia squarely at the center of the China-ASEAN capital corridor. And if you want to understand where the next wave of financial innovation is heading, our deep dive into tokenized real-world assets will give you a front-row seat to a structural shift already being led by this region.
Thanks for reading RISE by DailySocial! Subscribe for free to receive new posts and support my work.
Indonesia’s B2B tech moment is here.
On July 1–2 at AXA Tower, Jakarta, B2B Tech Asia Expo 2026 brings together the region’s top enterprises, vendors, and innovators at Southeast Asia’s largest expo dedicated exclusively to B2B software. With exhibitors including AWS, Salesforce, Mekari, and SoftBank, it’s the definitive platform for discovering solutions and forging partnerships as Indonesia’s digital economy accelerates. Register now at b2btechasia.com.
Stay ahead,
DailySocial Team
🚨 What’s New
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Indonesia’s Retail Investing Boom Keeps Delivering — Even in Rough Markets. Retail investing in Indonesia is delivering real numbers, not just hype. Stockbit Sekuritas closed 2025 with revenue up 395% and net profit surging 544% year-on-year, a result that reflects something structural: millions of first-time investors are now actively building wealth through apps, not through traditional brokers. Global volatility may cloud the near-term outlook, but the underlying trend remains firmly on track and for a market this early in its digital investing journey, the compounding runway ahead is still enormous.
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Fore Coffee Proves the Premium Coffee Thesis Is Very Much Alive Despite Ramadan seasonality and a choppy macro backdrop, Fore Coffee opened 2026 with a strong performance that should silence any doubts about Indonesia’s appetite for premium F&B. Revenue climbed 52.4% year-on-year to IDR 444.5 billion ($26 million), net profit grew 60.4% to IDR 9.43 billion, and EBITDA margin expanded to 18.3% from 16.7% a year earlier. The company added more than 20 new outlets in the quarter, with over 40% in tier-2 and tier-3 cities — exactly where Indonesia’s next wave of consumer spending growth is coming from. At 338 outlets and accelerating, Fore is becoming one of the clearest proof points that disciplined, tech-integrated F&B brands can scale profitably in this market.
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one% Nutrition Is Betting on Indonesia’s Protein Gap — and It’s the Right Call The wellness economy is quietly becoming one of Indonesia’s most exciting consumer segments, and one% Nutrition is positioning itself at the center of it. The startup, backed by Init-6 (founded by Bukalapak alumni Achmad Zaky and Nugroho Herucahyono), pioneered protein water in Indonesia, a zero-sugar, lactose-free format delivering 16g of protein per bottle. The Southeast Asia protein supplements market is projected to reach USD 1.1–1.2 billion by 2030, with Indonesia expected to drive a large share of this growth, even as the market remains early in its journey. With rising health consciousness, a fitness-first Gen Z demographic, and a massive protein-intake gap relative to developed markets, the opportunity here is enormous and still wide open for a local brand to own.
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Bank Jago Keeps Proving That Digital Banking in Indonesia Is a Long-Term Compounder Indonesia’s digital banking story continued to strengthen in Q1 2026, with Bank Jago (ARTO) delivering broad-based growth across every key metric. Net profit after tax surged 42% year-on-year to IDR 86 billion, loans grew 24% to IDR 25.2 trillion, and total assets rose 22% to IDR 39.5 trillion, while the NPL gross ratio remained impressively low at 0.8%. The bank now serves 19.4 million customers, up more than 3 million in a year with 15.2 million actively using the Jago app. That kind of customer engagement, combined with a 29.9% capital adequacy ratio, signals a bank with both the runway and the balance sheet strength to keep compounding as Indonesia’s digital economy expands.
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