Hear from a Founder who has sold his company to the most famous startup success story in Southeast Asia
Left to right: Lippo Group CEO John Riady, Grab Indonesia Managing Director Ridzki Kramadibrata, Kudo CEO Albert Lucius, Minister of Communications and Informatics Rudiantara, Grab Group CEO and Co-Founder Anthony Tan, Kudo COO and Co-Founder Agung Nugroho
Already excited for Echelon? Buy your tickets here! Enter promo code ECHELONCAPITAL for free tickets!
In May 2014, Agung Nugroho Co-founded Kudo, a startup that aimed to create cutting-edge solutions that helped bridge the online and offline commerce sectors.
The company allows the unbanked population in Indonesia to shop online via agents who facilitate the transaction.
Kudo caught the eye of ride-hailing giant Grab as it began to make its push into the country as part of a “Grab 4 Indonesia 2020 master plan”. The system seemed to integrate nicely into Grab’s payment infrastructure, which has made its financial services product a core part of the company moving forward.
Eventually Grab acquired Kudo and rumors indicated the startup had been valued over US$100 million.
For CEO Albert Lucious, the relationship paid a path for him to become the Chief Product Officer at OVO, the Indonesian payment company that is used by Grab. This meant Nugroho was shifted to the CEO of Kudo in October, 2018 where he remains.
For many startups, part of building a company is trying to create a product or business model that will eventually catch the eye of a potential buyer. This may mean traditional corporates, but with the region producing more unicorns, it may also mean looking at the region’s most successful startups.
What does it take to get the attention of Grab? How can a startup build a relationship that eventually leads to acquisition? How can a smaller startup make sure the deal is mutually beneficial?
Nobody is better positioned to answer these questions than Nugroho, who will be speaking at Echelon Asia Summit 2019!!
Also Read: These fantastic Echelon speakers are set to tackle this crucial ecosystem challenge
His fireside chat is titled “From startup to acquisition; How one company endeared itself to Grab.” Audience members can look forward to an insightful 1-on-1 conversation about running a startup in Indonesia, building it to a point where it gets acquired and then running it after the acquisition.
If this sounds exciting to you, register to Echelon here!
—
Already excited for Echelon? Buy your tickets here! Enter promo code ECHELONCAPITAL for free tickets!
The post Learn how this Echelon speaker got his startup acquired by Grab appeared first on e27.