Ex-Grab director launches firm for Indonesian influencers

Former Grab director Albert Lucius has launched TipTip, a digital platform aimed at monetizing social media influencers. The company previously raised US$10 million in a seed round led by East Ventures (EV).

From left: TipTip CEO Albert Lucius, TipTip president commissioner Triawan Munaf, East Ventures managing partner Wilson Cuaca, and EV Growth managing partner Roderick Purwana / Photo credit: East Ventures

TipTip allows influencers to engage directly with their supporters through interactive video sessions. The company helps them monetize content and get tipped by their fans on the platform, which is integrated with payment providers.

“As not everyone is proficient at building an audience, TipTip serves as a new, unique channel to connect content creators with their fans, while providing direct monetization opportunities outside of traditional ways of advertising and brand endorsement,” Lucius said in a statement.

Lucius is also the former CEO of online-to-offline platform Kudo, which was also backed by EV. The company was acquired by Grab in 2017.

Triawan Munaf, who is a venture adviser at EV, is TipTip’s president commissioner. As the former head of Indonesia’s creative economy agency, Munaf brings his expertise in the creative economy and ties with the government.

The creative economy sector contributes around one quadrillion rupiah (US$66.6 billion) to Indonesia’s gross domestic product each year, and the industry absorbed 17 million workers in 2019, according to the Indonesian Ministry of Tourism and Creative Economy.

Munaf said that apart from being an avenue for content creators to work, TipTip will facilitate public access to educational and quality content. Launched in Indonesia, the platform plans to enter developing countries across Southeast Asia.

Currency converted from Indonesian rupiah to US dollar: US$1 = 15,014 rupiah.