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In 2024, Indonesia's online food and beverage spending reached 212.2 trillion rupiah (US$12.9 billion), with food purchases at 177.7 trillion rupiah (US$10.81 billion) and beverages at 34.5 trillion rupiah (US$2.1 billion). The food delivery sector generated 88.9 trillion rupiah (US$5.41 billion), led by GrabFood with a 47% market share, followed by GoFood at 35% and ShopeeFood at 18%. GoFood's top-selling item remained chicken rice for the sixth year, while iced Americano and seblak are anticipated to gain popularity in 2025.
Sea Ltd reported a 36.9% increase in Q4 revenue, reaching US$4.95 billion, driven by Shopee's 41.3% growth in Indonesia during the holiday season. SeaMoney's revenue surged 55.2%, surpassing expectations, while Garena anticipates double-digit growth in users and bookings by 2025. Following the earnings report, shares rose 11% in premarket trading.
In January 2025, Indonesia's crypto transactions soared to 44.07 trillion rupiah (US$2.68 billion), a remarkable 104.31% increase from the previous year. This surge contributes to a total of 650.6 trillion rupiah (US$39.56 billion) in crypto transactions for 2024. As of February 2025, there are 1,396 crypto assets available for trading, with 19 entities authorized by the OJK, including one exchange and one clearing institution, while 14 more are seeking permits following the regulatory shift from Bappebti to OJK.
In January 2025, Indonesia's pay later transactions reached 29.69 trillion rupiah (US$1.81 billion), marking a nearly 50% increase from December 2024. Financing companies saw a 41.9% year-on-year growth, while bank-facilitated transactions rose by 46.45%. Notably, 70.4% of users are aged 18 to 35.
Angkas, a motorcycle taxi app in the Philippines, faces stiff competition from Move It and JoyRide, especially after Grab's acquisition of Move It, impacting its market share and driver earnings. The industry grapples with regulatory uncertainty, prompting Angkas to explore geographical expansion for growth. Meanwhile, the Indonesian government plans to allocate $20 billion annually to its new sovereign wealth fund, Danantara, aiming for significant investment partnerships.
InDrive has launched its first fintech service in the Asia-Pacific region, inDrive.Money, offering Shariah-compliant loans for drivers in Indonesia. Developed with Fingular and Ammana, the service allows access to loans up to 10 million rupiah for urgent expenses, with repayments linked to ride earnings over three to five months. Currently available in major cities like Jakarta and Surabaya, this initiative marks a significant expansion of inDrive's services in Indonesia.
Indonesia has lifted its five-month ban on the iPhone 16 after Apple agreed to invest $1 billion in the country, significantly up from its previous $95 million commitment. This deal aligns with Indonesia's goals for local manufacturing and foreign investment, allowing Apple to tap into its market of over 278 million tech-savvy consumers. The move comes as Apple seeks new growth opportunities in Southeast Asia amid slowing sales in China.
Kreatif Media Karya (KMK), a subsidiary of Emtek Group, has increased its stake in PT Bukalapak.com Tbk (BUKA) to 34.05% by acquiring 9.73 billion shares at 138 rupiah each, totaling 1.34 trillion rupiah (US$81.88 million). This move raises KMK's ownership from 24.61% and aligns with its investment goals, according to BUKA’s Corporate Secretary, Cut Fika Lutfi.
Apple and Indonesia have reached an agreement to lift the sales ban on the iPhone 16, concluding a five-month standoff. The deal includes a US$1 billion investment from Apple focused on local research and development, with a memorandum of agreement set to be signed this week. While Apple will support innovation programs to develop local talent, there are no plans for iPhone manufacturing in Indonesia, and the deal's finalization remains uncertain.
Kredivo has announced its acquisition of GajiGesa, a fintech company based in Indonesia. This strategic move aims to enhance Kredivo's offerings in the rapidly growing financial technology sector in the region. The deal reflects the increasing consolidation within the fintech landscape in Southeast Asia.
Indonesian Rupiah
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indonesian online food and beverage spending reaches 12.9 billion dollars in 2024
04:50 05.03.2025
sea ltd reports strong q4 revenue growth driven by shopee and seamoney
03:50 05.03.2025
indonesia crypto transactions soar 104 percent in january 2025
03:10 05.03.2025
indonesia pay later debt reaches 1.81 billion dollars in january 2025
02:50 05.03.2025
motorcycle taxi competition intensifies in the philippines with angkas and grab
10:30 03.03.2025
indrive introduces shariah-compliant loans for drivers in indonesia
10:52 27.02.2025
Indonesia lifts iPhone 16 ban after Apple agrees to invest one billion dollars
04:00 27.02.2025
Emtek subsidiary increases Bukalapak stake in 81.88 million dollar deal
03:19 26.02.2025
apple and indonesia reach agreement to lift iphone 16 sales ban
13:26 25.02.2025
Kredivo announces acquisition of Indonesian fintech GajiGesa
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