By Qu Sihan © CompassList

By Qu Sihan © CompassList

Indonesia adapted and furthered the successful business models that created unicorns in China. Now, it’s exporting its own to the rest of Southeast Asia, even beyond

Indonesia's five unicorns – Gojek, Bukalapak, Tokopedia, Traveloka and OVO – may seem to be the most successful startup ideas the country has produced so far. Yet, there is also a sense of deja vu. That's perhaps not so surprising: after all, the business models underpinning these unicorns were first hatched in China.
Online-to-offline (O2O) on-demand services, e-commerce marketplaces and digital payments are some of the key models developed and defined by Alibaba and Tencent that were later adapted and took root in Indonesia and other parts of Southeast Asia. Most famously, th...

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