An unknown startup is tackling Indonesia’s ecommerce giants with a ‘no discounts’ policy

Sale Stock’s motto: Fashion for all of us. Photo credit: Sale Stock.

Shopping app Sale Stock is making its mark. It’s currently ranked number 10 shopping app in Indonesia’s Play Store – nose-to-nose with ecommerce incumbents like OLX, Lazada, Tokopedia, and Bukalapak. But unlike the giants, Sale Stock launched less than a year ago.

People in the tech scene praise the startup for its speedy execution. Yet Sale Stock has never been covered by Tech in Asia – the founders flat out refuse to be interviewed!

Sale Stock is media shy. It has so far refrained from broadcasting its existence and only recently began airing TV commercials.

While the founders prefer to keep a low profile, some information about the elusive startup found its way online. Here’s a summary.

5 co-founders

Sale Stock was started by husband and wife team Lingga Madu and Ariza Novianti. Lingga is a former wealth manager.

The other co-founders are Stanislaus Tandelilin, who used to work at Citi; Ivan Samuel Heydemans, who joined Sale Stock via Lazada; and Listiarso Wastuargo, a former engineer at Facebook.

Funding situation

Sale Stock never made any fundraising announcements, but it’s listed as a company in the portfolio of Ardent Ventures and thus is now managed under Wavemaker. The two funds recently merged.

Ardent partners with Indonesia’s Sinar Mas Digital Ventures (SMDV), the tech venture arm of conglomerate Sinar Mas. It’s possible SMDV has a larger stake in Sale Stock. The startup has an office in SMDV’s downtown Jakarta space and another presence is forming in Bumi Serpong Damai (BSD), a satellite city developed by Sinar Mas.

Orami, an ecommerce company officially backed by SMDV, also has plans to establish itself in BSD – so it’s not far fetched to think Sale Stock also received an investment from them.

Tech in Asia reached out to SMDV for comment.

Multiple locations

As already mentioned, Sale Stock has presences at Sinar Mas spaces in Central Jakarta and BSD.

The official address stated on its website places it in East Jakarta. The address is near a warehouse tagged with its name on Google.

Mobile-only

Strictly affordable fashion

No discounts

Logistics partner

Speaking to young women

App store stats

Hiring spree

Competitors

Conclusion