Tokopedia CEO defied critics to construct a multibillion-dollar enterprise
As CEO of e-commerce website Tokopedia, the 39-year-old is one-quarter of the management of the newly- merged GoTo Group — Indonesia’s most dear know-how firm.
However his enterprise could by no means have come to be if it weren’t for his dedication within the face of critics.
“Tokopedia’s story virtually ended earlier than we even began,” Tanuwijaya instructed CNBC Make It.
Impressed by U.S. icons
It was then the mid-2000s and the web was taking off within the nation. However with no established tech trade or native position fashions to study from, Tanuwijaya needed to look to the greats.
“We do not have successful story like Mark Zuckerberg or Sergey Brin, Steve Jobs or Jack Ma. There was no such story of entrepreneurs from Indonesia constructing know-how corporations throughout that point,” he mentioned.
Impressed by their tales, Tanuwijaya knew he — like them — must elevate non-public funding to get his thought off the bottom. However as a younger Indonesian from a rural background and humble beginnings, he quickly realized he did not match the mould.
“They’d ask about my private background … which college I studied at,” Tanuwijaya mentioned, recalling his conversations with traders.
“I don’t come from the Ivy League,” mentioned Tanuwijaya, who studied at Binus College in Jakarta whereas working night time shifts in an web cafe to assist his household. “I at all times contemplate myself a graduate from web cafe.”
Then they’d ask him in regards to the wider market alternative.
“They’d ask me, William, are you able to identify one one that has been profitable in Indonesia as a result of they’re constructing a know-how firm or web enterprise?” he mentioned.
Regardless of being house to the world’s fourth-largest inhabitants and a quickly rising center class, traders had been not sure of Indonesia’s potential or if he was the person to understand it.
“Your thought could be very easy,” he recalled them saying. “You need to construct the Amazon of Indonesia or the Alibaba of Indonesia. What about when all these world giants come to the market? They’ve the know-how, they’ve the capital, they’ve the know-how, they’ve the assets that you simply do not need. How will you compete?”
Adopting the American dream
Then got here the day when he met with one non-public investor who modified his life endlessly.
“He mentioned: William, your whole position fashions, these Silicon Valley founders, they’re born particular, you aren’t,” Tanuwijaya recalled. “Please cease daydreaming; discover one thing extra lifelike to do.”
For Tanuwijaya, it was the catalyst he wanted.
“That’s the day when I discovered the aim of my life as a result of I noticed the rationale I wished to construct Tokopedia is to construct belief amongst strangers to have the ability to begin enterprise wherever,” he mentioned.
Like his U.S. idols, whom he mentioned to embody the American dream of self-determination, Tanuwijaya mentioned he found a drive to be undiscouraged and assist different Indonesian enterprise house owners.
“That day I remembered that Indonesia really has an Indonesian dream idea,” mentioned Tanuwijaya. “Our founding father, the primary president of the nation, as soon as mentioned … ‘Dream as excessive because the sky. In case you fall, you fall amongst the celebs.'”
“I discover that is stunning and that is the Indonesian dream,” he mentioned. “So I made a decision that it doesn’t matter what occurs, I’ll attempt to construct Tokopedia.”
After launching Tokopedia in 2009, Tanuwijaya and his co-founder Leontinus Alpha Edison quickly secured seed funding from the Indonesian funding agency PT Indonusa Dwitama. It has since obtained buy-in from SoftBank, Sequoia Capital and Alibaba Group.
Greater than a decade on, beneath the GoTo Group, Tokopedia counts a community of greater than 11 million retailers and 100 million energetic customers, who final yr contributed 1% to Indonesia’s $1.1 trillion gross home product.
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