Indonesian unicorns 🦄 have too many things in common.
All founded in the post-2009 Global economic crisis, easy-money in the emerging markets era. Then again, that “easy-money” poured into Turkey as well till 2016 – what did we do with it? So “easy” shouldn’t be misleading as a “guarantee” for success. It’s just a component.
All fix pain points, nuances for local customers, acknowledging how big their domestic market is, not hasty in expanding abroad.
And all have mainly Asian ‘global’ investors. That simply wouldn’t be possible in the 90s – where was Alibaba and Tencent back then?
Indonesia is one of the most exciting places right now to watch. And these guys are the heroes of this story.