Bootstrapped Rocketindo launches its way to profitability

IN FOCUS

In today’s newsletter, we look at:

• How ecommerce enabler Rocketindo bootstrapped its way to profitability
• Why retailers in Singapore are trialing cashierless tech in stores even after Amazon ditched it
• How Prism+ built a profitable business despite missteps

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Hi there,

“Every two weeks, 28 million rupiah (US$1,700). As a content analyst in the US.”

Young employees at Indonesian startup Rocketindo are sharing their starting salaries at their first jobs in a now-viral clip that has racked up over 180,000 likes and 17,000 shares on Instagram.

But perhaps it’s the ecommerce enabler’s journey from bootstrapped firm to a profitable one, recording year-on-year revenue growth of 200% in 2023, that should be catching eyeballs instead.

In this week’s Big Story, my colleague Budi discusses how Rocketindo’s Taiwan origins – where its founder and CEO Daniel Liu is originally from – along with a strategy of helping Taiwanese brands expand into Indonesia and its focus on the beauty category has set the firm apart from competitors.

As Taiwanese beauty brands top best-selling charts on Shopee, retailers in Singapore are busy implementing new cashierless tech in their stores.

In this week’s Hot Take, I discuss why a confectionary chain and several convenience stores in Singapore are experimenting with sensors and cameras in a move that could see more unmanned stores pop up across the city-state.

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— Melissa

THE BIG STORY

Ecommerce enabler Rocketindo bootstraps its way to 300% growth, profitability

Image credit: Timmy Loen

THE HOT TAKE

NEWS YOU SHOULD KNOW

FYI