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Profitability is elusive for startups and the situation is the same for ecommerce platforms.
In my home country India, ecommerce players have seen widening losses, including Flipkart, Myntra, and even Amazon’s (AMZN, NDAQ) India unit. A rare exception is SoftBank-backed Meesho, which turned profitable during the quarter ended September 2023.
Like India, Indonesia has its share of large ecommerce companies in pursuit of profitability. Blibli (BELI, IDX) is one such company. It might turn profitable this year as it saw a 30% improvement in EBITDA for the nine-month period ended September 2023.
In this week’s Big Story, my colleague Jofie explains how Blibli is carving its own niche in the fiercely competitive ecommerce sector in Indonesia.
Its relatively stable stock price since its market listing contrasts with that of Bukalapak (BUKA, IDX) and GoTo (GOTO, IDX), the other two ecommerce giants of Indonesia. Read on to know why Blibli is not your usual tech company.
— Samreen
THE BIG STORY
Image credit: Timmy Loen
Why Blibli’s shares are outperforming GoTo, Bukalapak stocks
One advantage the company has is a reputation for stability, as most of its shares are held by conglomerate Djarum Group.
3 Trends to keep an eye on
Hot stocks, earnings reports, restructuring, pressure from activist investors, and more.
The metal parcel box on the back of Lazada motorcycle in Bangkok / Photo credit: pisitbz / Shutterstock
1️⃣ Better incentives in Lazada layoffs: Lazada and the Food, Drinks, and Allied Workers Union recently announced an enhanced support package and a training fund for those affected by the layoffs at the ecommerce company, which is owned by Alibaba (BABA, NYSE). This was brokered by Singapore’s Ministry of Manpower.
2 Eye-popping facts
The one you didn’t see coming
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