Indonesia will ban purchases on social media

🔒️Lockdown defense - According to Indonesia’s minister of trade Zulkifli Hasan, the country will be banning social media ecommerce transactions to protect local micro, small and medium enterprises and protect user data. He also warns of social media being an all in one ecommerce, shop and bank.

📝 Crunching some numbers - Tiktok was the most affected by this ban. The Indonesia market for the app has:

• 113 million users (TikTok’s second largest market)

• Recorded a gross merchandise value of $2.5 billion in 2022

• 50 million users that are aged 18-24 according to Social Insider

The minister of trade stated that this would only affect direct transactions and that advertising products would still be permitted.

Grab buying Foodpanda means dominance

💰️Who’s buying - Delivery Hero, the parent company of Foodpanda, confirmed that they have been in talks with its rival Grab for roughly $1.07 billion. Parts would be sold in Singapore, Philippines, Laos, Malaysia, Cambodia, and Thailand.

📈 Investor’s payday - Grab’s investors are going to love the acquisition.

• The company originally lost 72% of its value since its Nasdaq debut in Dec 2021

• The new report boosted shares by as much as 13.5%

• Grab is trading at 2.7 times its estimated 2023 sales, meaning Foodpanda is being bought at a lower valuation.

• Grab’s own food delivery is reportedly growing too

Delivery Hero CEO Niklas Oestberg also states that Asia is the biggest opportunity to invest for the company.

20 minute groceries: Zepto tops LinkedIn’s top Indian startup list

🧺 New Kid on the Block - Zepto was founded in 2021 by Aadit Palicha and Kaivalya Vohra and grew to become India’s fastest growing e-grocery company valued at $1.4 billion and becoming the country’s first unicorn. Zepto prides and sets itself apart by delivering groeceries within 10 minutes.

🏆️ LinkedIn Top 20 - The list is based on startups that employees aspire to work for and take into account employee expansion, job seeker interest, and engagement among stakeholders.

The list for 2023 is:

1. Zepto

2. BluSmart

3. Ditto Insurance

4. PocketFM

5. Skyroot Aerospace