One year on, Elevenia reveals how much of an impact it’s had on Indonesia’s ecommerce market

James Lee, CEO of Elevenia.

Indonesian ecommerce site Elevenia is approaching its one-year aniversary next month, and that makes it a good time for an update on the telco-backed marketplace that has been going head-to-head with robust estore rivals like Tokopedia, BukaLapak, and Lazada Indonesia.

In the past, Elevenia – a joint venture between Indonesia’s XL Axiata and South Korea’s SK Planet – chose not to disclose the amount of capital that’s gone into the project. Today, however, we’ve got the numbers.

Elevenia currently has US$60 million in total investment, explains the firm’s CEO James Lee in an announcement. Lee adds that Elevenia’s initial investment was US$36.6 million, divided by the two telcos, and the rest of the cash was injected just last month. “The investment in January 2015 [was always] part of the initial plan,” adds Lee.

See: 5 contenders up against Tokopedia, Indonesia’s newly-crowned ecommerce giant

Over 800,000 shoppers so far

Lee says 60 percent of Elevenia’s total traffic and 30 percent of it total sales currently come from mobile devices in Indonesia.

At the moment, the site claims to be attracting more than 20 million visitors per month with 4.2 million of them being unique visitors. As of January, the company says it has more than 18,000 sellers and two million product listings. Elevenia also claims to have 800,000 registered members now, but did not put out any further information on user activity. To get a sense of scale for ecommerce traffic, Tokopedia disclosed in October that it receives about 10 million visitors per month and sold 24 million products in its fourth year of operations.

Lee avoids calling Elevenia a complete success after just one year of operations, but he remains optimistic about his company’s ability to stay competitive in the archipelago’s budding ecommerce scene. “Elevenia is fine. We’re still on the right track. And we’re ready to reach [our] 5X target from last year,” says the CEO.

While Elevenia is not the most well-known brand when it comes to ecommerce in Indonesia, it could perhaps be characterized as a quiet but formidable player – and aggressive too. Last March, the firm had a tussle with Tokopedia about an issue involving online merchants. In March, it will see yet another competitor in the form of MatahariMall.

See: Indonesia’s Lippo Group invests $500M to launch MatahariMall