MAROKO133 Breaking startup: GoTo Finds Profit 💰, Ojol Gets a Floor 🛵, TikTok Comes for Lun

📌 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.

Stay ahead,
DailySocial Team

🚨 What’s New

• 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.

• 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.

• 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.

• 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.

• 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

• 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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  📌 MAROKO133 Eksklusif startup: Ajaib Lifts Off 📈, TipTip Turns Profitable 💸, Danan

  Dear subscriber,

  Hi everyone, hope this finds you well. Indonesia’s tech ecosystem is sending strong signals this week across fintech, data centers, ride-hailing, and AI policy. Ajaib and TipTip are turning growth into profitability, hyperscale capital keeps flowing into Greater Jakarta, and Danantara has quietly stepped onto GoTo’s cap table. On the regional front, Money20/20’s Future of Fintech in APAC 2026 report feels especially timely as these moves accelerate. Let’s dive in.

  Thanks for reading RISE by DailySocial! Subscribe for free to receive new posts and support my work.

  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

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  🚨 What’s New

  • Ajaib Revenue Jumps 152% as Indonesia’s Retail Trading Boom Lifts Off Ajaib closed 2025 with revenue up 152% YoY, while net profit rose 38% to roughly US$1.4 million on the back of Indonesia’s surging retail trading activity. The growth echoes a broader sector lift, with rival Stockbit reporting 395% revenue growth and 544% net profit growth over the same period. These numbers reflect a deepening retail investor base, fueled by stronger IDX activity, faster digital onboarding, and a maturing fintech regulatory framework. Ajaib’s user base has grown past 3 million investors, anchoring its position as Indonesia’s first fully online stock brokerage and one of Southeast Asia’s fastest-growing fintech unicorns. For Indonesia’s capital markets, the signal is clear: retail participation is becoming a structural growth engine rather than a cyclical wave.

  • TipTip Hits Profitability as AI Rewrites Unit Economics

    TipTip just became one of the few homegrown entertainment platforms to hit company-wide EBITDA profitability, proving that disciplined AI deployment can flip unit economics fast. The East Ventures-backed company posted 56% QoQ gross revenue growth in entertainment ticketing in Q1 2026, with net revenue jumping 283% from the previous quarter. Contribution margins improved 50% after its AI engine went live, and over half of transactions now come from self-onboarded promoters. Building on this momentum, TipTip is expanding into curated travel experiences via SatuSatu, starting with a Bali All-Access Pass. For Indonesia’s local creator and experience economy, it’s a strong signal that AI-led automation can finally make small-ticket commerce work at scale.

  • Grab Beats Estimates with Record Q1 Profitability

    Grab posted a record Q1 2026, with revenue up 24% YoY to US$955 million and adjusted EBITDA jumping 46% to US$154 million, topping analyst estimates. On-Demand GMV grew 24% to US$6.1 billion, with Deliveries up 23%, Mobility up 19%, and Financial Services surging 43%. Profit reached US$120 million versus just US$10 million a year ago, even with seasonal softness from Lunar New Year and Ramadan. Management is sticking with full-year guidance of US$4.04 to 4.10 billion in revenue and US$700 to 720 million in adjusted EBITDA. For Indonesia, where Grab and GoTo dominate the daily commute, the signal is that ride-hailing demand is structurally resilient through macro pressure.

  • Three KoinWorks Executives Detained Over Rp600B BRI Loan Case

    Three KoinWorks executives, including current CEO Jonathan Bryan and co-founder Benedicto Haryono, have been detained by Jakarta prosecutors over an alleged Rp600 billion corruption case tied to BRI loan disbursements. Investigators say the trio funneled bank funding to clients using manipulated invoice collateral and skipped mandatory insurance coverage. Detention runs 20 days at Cipinang and Salemba while prosecutors trace asset flows and possible bank-side involvement. While painful for affected lenders, the case is a clearer enforcement signal for Indonesia’s P2P lending sector, where OJK is already tightening oversight of KoinP2P. Cleaner rails and stronger underwriting discipline are exactly what the next chapter of Indonesian fintech needs.

  • PDG Raises US$856M for Hyperscale Expansion in Bekasi

    Princeton Digital Group secured roughly US$856 million in financing to build out its 120MW JC3 hyperscale campus in Bekasi, one of the region’s largest green loans to date…

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