Facebook Co-Founder Saverin Among Investors in Indonesia’s Orami
In this article (5)
Facebook Inc. co-founder Eduardo Saverin, who’s been stepping up his investments in Southeast Asian technology startups, joined a $15 million round of financing for Indonesian e-commerce startup Orami.
Other investors included the technology-focused investment arm of Indonesia’s Sinar Mas Group, Shanghai-based Gobi Partners Inc., Velos Partners and Ardent Capital LLC, according to a statement Wednesday. Orami is the new brand for the female-focused business formed through the merger of Moxy and Bilna and is led by Chief Executive Officer Jeremy Fichet. It plans to expand to other countries in the region.
“The Orami team is on top of its game with a laser focus on the intersection of social commerce, content and women,” Saverin said in the statement. “Between Thailand and Indonesia, where more than five million babies are born a year, women not only serve as the gate to the home but are the key drivers of rapidly growing economy and future generation.”
Saverin’s recent investments include online news site Tech in Asia, car rental service Silvercar, and Hopscotch, a shopping site for Indian moms.
Orami now has almost 500 employees in Indonesia and Thailand. Some 75 percent of its customers are women and the startup gets about three million visits a month.
Questions & Answers
Q.What kind of business is Orami and how did it come to be?
What kind of business is Orami and how did it come to be?
Orami is an Indonesian e-commerce startup focused on women. It was formed through the merger of Moxy and Bilna, and is currently led by Chief Executive Officer Jeremy Fichet.
Q.How large is Orami's customer base and workforce?
How large is Orami's customer base and workforce?
Orami currently employs almost 500 people across Indonesia and Thailand. It attracts approximately three million visits monthly, and 75 percent of its customers are women.
Q.Which other investors contributed to Orami's financing round?
Which other investors contributed to Orami's financing round?
Besides Eduardo Saverin, other investors in Orami's $15 million funding round included the Sinar Mas Group's technology investment arm, Gobi Partners Inc., Velos Partners, and Ardent Capital LLC.
Q.What is Orami's future expansion strategy?
What is Orami's future expansion strategy?
Orami plans to expand its operations to other countries within the Southeast Asian region. Saverin highlighted the significance of women as economic drivers in the region, particularly between Thailand and Indonesia.
Reader pulse
Is Orami's female-focused strategy a winning bet?
24,306 votes so far