Shop by app
Indonesia has its first successful start-up IPO after Kioson Komersial’s shares spiked 50% on the first day of trading. The company’s proposition is simple enough, with its platform enabling consumers to complete online purchases and pick up their orders at one of thousands of small shops known as warung.
Kioson currently has deals in place with 19,000 warung and is looking to up that to 100,000 by 2019. It offers traders tablets preloaded with its app to act as a digital storefront in physical spaces, allowing consumers to pay cash for online goods.
Kioson says it had offers from VC and private equity funds, but felt that the IPO route was fairer and more transparent as retail investors were able to participate.
The firm sees itself as facilitating online shopping as many Indonesians are unable to participate due to the logistical difficulties of having to use cash for online purchases.