OVO`s Unicorn Status, Minister: RI becomes Digital Economy Center
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7 October 2019 08:19 WIB
TEMPO.CO, Jakarta - The Communication and Informatics Minister Rudiantara believes the birth of OVO as Indonesia’s (RI) fifth unicorn further establishes the country’s gravitational pull for the global digital economy.
Prior to this, Rudiantara announced the digital wallet firm’s unicorn status as it reached a company valuation that exceeds USD 1 billion.
“Alhamdullilah (thank God) with the birth of the fifth unicorn, it further establishes Indonesia as the digital economy’s center of gravity. National and international venture capitals further believe in startups in Indonesia,” said Rudiantara to Tempo on Sunday.
As of now, the valuation of OVO is believed to have reached USD 2.9 billion or Rp41 trillion. Their achievement follows the footsteps of three startups that had obtained the unicorn status such as Traveloka, Bukalapak, and Gojek, which has upped the level as a decacorn.
Moreover, Minister Rudiantara predicts the next startup to grow into unicorn status will arise from the education industry.
FRANCISCA CHRISTY ROSANA | ANTARA
