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

Social media users in Indonesia might recognize the viral “spill your first salary” clip posted by Rocketindo last December, where its employees shared their past jobs and their paychecks.

However, despite having millions of views and over 150,000 followers on Instagram, the ecommerce enabler has stayed under the radar, with relatively few media mentions.

It hasn’t raised any venture capital, with founder and CEO Daniel Liu relying on his own funds to kickstart the company’s operations in 2016.

Rocketindo claims to have achieved significant growth while being bootstrapped. The company says it recorded around US$17 million in gross merchandise value (GMV) last year, growing by more than 300% since 2021, while annual revenue growth was 200% within the same period, although exact figures were not disclosed.

The firm also says that it has been in the black – on a net profit basis – since 2023.

Rocketindo COO Jerry Liu (left) and CEO and founder Daniel Liu / Photo credit: Rocketindo

Daniel – who manages Rocketindo with his twin brother, Jerry Liu – attributes the company’s growth to its expertise in social media marketing. So far, the firm only targets international brands looking to expand to Indonesia.

“We have demonstrated our ability to drive success even at higher price points selling middle- to high-end products,” Daniel tells Tech in Asia.

The Taiwan factor

The Liu brothers hail from Taiwan, and Rocketindo has a clear focus on enabling Taiwanese brands to enter the Indonesian market.

This aligns neatly with the Taiwanese government’s New Southbound Policy, which was meant to diversify Taiwan’s markets by strengthening its relations with neighbors to the south, including Southeast Asia.

The Taiwanese origins of the brands on Rocketindo have enabled them to charge higher prices, too.

For instance, while local shampoo products retail for under 100,000 rupiah (US$6.1), shampoo brand Miss Daisy, a Rocketindo client, sells its items for 100,000 rupiah (US$6.1) to 300,000 rupiah (US$18.4).

Besides having to pay extra costs for taxes and distribution, Rocketindo justifies the bump in prices by positioning its international brands as the providers of “premium” goods.

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