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There are benefits to being a dark horse. You can avoid the limelight and focus on what matters.
In this week’s Big Story, my colleague, Budi, sketches out a profile of Moladin, a used-car marketplace based in Indonesia that recently raised US$137 million across two rounds.
Moladin is in a space that already has two Southeast Asian unicorns: Carro and Carsome.
So why are investors betting on this lesser-known company?
For one, Southeast Asia’s used-car market is still underdeveloped. RedSeer Consulting estimates that the segment is worth about US$50 billion. In addition, the Covid-19 pandemic has significantly driven up demand for used cars.
Secondly, Indonesia is a fertile market with high demand for passenger cars as people can’t rely solely on public transport for commutes.
Budi also goes on to explain why Moladin’s model differs from Carro and Carsome, the two other elephants in the room.
For our Hot Take, the spotlight is back on Lazada, the traditional ecommerce marketplace. Last Friday, we reported on the Alibaba-backed firm’s latest CEO reshuffle – its fifth in five years. It begs the questions: Is time running out for Lazada to catch up with rival Shopee?
– Huong
THE BIG STORY
Moladin was ‘almost dead.’ Then it pivoted to used cars – and raised $137m
Image credit: Timmy Loen
Initially focused on motorbikes, the Indonesian firm now has over 40,000 downline freelancers who help its 2,000 employees check cars and estimate prices.
THE HOT TAKE
NEWS YOU SHOULD KNOW
FYI
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