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Hello reader,
They say beauty is in the eye of the beholder.
In Vietnam, for example, some really like my pale Irish skin tone. But back home, that might not be the case. A quick Google search shows my small hometown has at least eight tanning salons.
That’s just skin-deep beauty though. What makes a person, thing, experience, or otherwise truly beautiful inside is even more open for debate.
Just as there are many different ways to measure beauty, there are plenty of different metrics by which a company’s performance can be evaluated.
Indonesia-based beauty ecommerce firm Sociolla says it’s profitable via one key metric. Is business success also in the eye of the beholder? Read today’s featured piece to find out.
Today we look at:
- Sociolla’s profit push
- Funding for Indonesian organic menstrual care brand Uma Women
- Other newsy highlights such as Tesla enjoying a stock bump and Meta launching an election hub in Indonesia.
Premium summary
Sociolla’s swell year
Image credit: Timmy Loen
Indonesia-based beauty ecommerce firm hit EBITDA profitability in the first quarter of this year, according to CEO and co-founder Christopher Madiam.
The executive made the announcement at the Tech in Asia Conference in Jakarta, adding that its revenue grew by more than 50% year on year in 2024.
- Day one: Madiam told Tech in Asia that the firm’s business was sustainable from the start. The company, which was founded in 2015, had a “positive gross profit margin” and avoided focusing on burning cash to subsidize the market, he said.
- Vietnam calling: Sociolla expanded to Vietnam in 2020, and the firm is now making adjustments to how it approaches the market. For instance, the company plans to improve its existing infrastructure in the country before opening more stores.
- What competition?: TikTok Shop and Shopee Live are both experiencing significant growth in Indonesia. Beauty and personal care items do well on both platforms, putting them in direct competition with Sociolla. But Madiam doesn’t view either as a threat, as he said Sociolla targets loyal, repeat customers.
Padding the coffers
Be there to witness next-gen startups bring the heat!
Quick bytes
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