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Warung Pintar Officially Acquired Bizzy

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New retail startup Warung Pintar has officially announced its acquisition of Bizzy, a B2B logistics and supply chain distribution startup. The acquisition value reached $45 million or around Rp633 billion.

Through this acquisition, Warung Pintar is to strengthen its position in the B2B e-commerce market and predicted to grow three times of the B2C market.

“[Acquisition] Bizzy as a whole, not just a particular business unit,” East Ventures’ Co-Founder & Managing Partner, Willson Cuaca said in a short message to DailySocial.

Previously, Bizzy was a B2B e-commerce platform that has pivoted into the logistics and distribution business. Bizzy Logistics is known as PT Bina Sinar Amity, an integrated logistics, export, and import service provider company. Meanwhile, Bizzy Distribution is legally under PT Sinarmas Distribution Nusantara.

Apart from being affiliated with the Sinarmas group, Bizzy is also a portfolio of East Ventures. Sinarmas, through its venture capital unit, SMDV, is also a part of EV Growth.

Ready for the momentum of B2B e-commerce

Quoting various data sources, the current B2B e-commerce revenue in Indonesia accounts for less than half of the total e-commerce revenue in 2020. As an illustration, B2B e-commerce revenue in India contributes 93% of total e-commerce revenue there and 72% in China.

Warung Pintar’s Co-Founder & CEO, Agung Bezharie said that the two companies are to realize the same mission, transforming traditional retailers, and increasing their efficiency in the supply chain, which is considered fragmented with two different approaches.

Therefore, Agung expects to change the digital-based distribution approach which has mostly been driven by massive promotions and discounts in order to acquire customers.

“Bizzy’s joining the Warung Pintar ecosystem allows the company to guarantee product availability and reasonable prices with its partners,” Agung said in a press release received by DailySocial.

Furthermore, Bizzy’s CEO, Andrew Mawikere added that after the acquisition, Bizzy will remain an entity that will focus on bridging the synergy between the two companies with brands and distributors and enabling them to become a digital retail ecosystem.

This means as the synergy established, Warung Pintar can focus more on digitizing its retailers, while Bizzy focuses on serving brand partners and distributors.

“After Bizzy’s entry as part of Warung Pintar, there will be no other players integrated into our supply chain. That way, we can serve brands and distributors with various added value and data-based strategies on a large scale,” Andrew said.

Was founded in 2017, Warung Pintar offers solutions to micro-entrepreneurs’ problems that have been the foundation of the Indonesian economy with a 70% contribution to total retail transactions in Indonesia. Meanwhile, this acquisition will combine two companies that have collaborated with 600 brands and serve 230 thousand retailers in 65 cities throughout Indonesia.

Willson also sees opportunities for synergy and efficiency that will be created by joining the two companies. “Warung Pintar is an on-demand platform, while Bizzy comes from the supply side. Combined, they can serve consumers, retailers, and brands in the most effective way. This is a real 1 + 1 = 3,” he said in an official statement.

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Original article is in Indonesian, translated by Kristin Siagian

Warung Pintar dan Bizzy bersinergi di pasar retailer dan B2B / East Ventures

Warung Pintar Umumkan Akuisisinya Terhadap Bizzy

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Startup new retail Warung Pintar resmi mengumumkan akuisisinya terhadap Bizzy, startup logistik dan distribusi supply chain B2B. Nilai akuisisi mencapai $45 juta atau sekitar Rp633 miliar.

Melalui akuisisi ini, Warung Pintar ingin memperkuat posisinya di pasar e-commerce B2B dengan pertumbuhan yang diprediksi mencapai tiga kali lipat dari pasar B2C.

“[Akuisisi] Bizzy secara keseluruhan, bukan unit bisnis tertentu saja,” ujar Co-Founder & Managing Partner East Ventures Willson Cuaca dalam pesan singkat kepada DailySocial.

Sebelumnya Bizzy adalah platform e-commerce B2B yang telah pivot menjadi bisnis logistik dan distribusi. Bizzy Logistics dikenal sebagai PT Bina Sinar Amity, sebuah perusahaan penyedia jasa logistik, ekspor, dan impor terintegrasi. Sementara Bizzy Distribution secara legal berada di bawah PT Sinarmas Distribusi Nusantara.

Selain terafiliasi grup Sinarmas, Bizzy juga merupakan portofolio dari East Ventures. Sinarmas sendiri melalui unit modal venturanya, SMDV, juga menjadi bagian EV Growth.

Bersiap pada momentum pertumbuhan e-commerce B2B

Mengutip berbagai sumber data, saat ini pendapatan e-commerce B2B di Indonesia menyumbang tak sampai setengah dari total pendapatan e-commerce keseluruhan di 2020. Sebagai gambaran, pendapatan e-commerce B2B di India berkontribusi sebesar 93% terhadap total pendapatan e-commerce di sana dan 72% di Tiongkok.

Co-Founder & CEO Warung Pintar Agung Bezharie mengatakan, kedua perusahaan ingin mewujudkan misi yang sama, yakni mentransformasikan peritel tradisional dan meningkatkan efisiensinya terhadap rantai pasokan yang saat ini dinilai masih terpecah-pecah dengan dua sisi pendekatan yang berbeda.

Maka itu, Agung berharap dapat mengubah pendekatan distribusi berbasis digital yang sejak dulu kebanyakan didorong oleh promosi dan diskon besar-besaran demi meraup pelanggan.

“Bergabungnya Bizzy ke dalam ekosistem Warung Pintar memungkinkan perusahaan untuk menjamin ketersediaan produk dan harga yang wajar dengan para mitranya,” ujar Agung dalam keterangan pers yang diterima DailySocial.

Lebih lanjut, CEO Bizzy Andrew Mawikere menambahkan pasca-akuisisi nanti, Bizzy tetap menjadi entitas yang akan fokus dalam menjembatani sinergi kedua perusahaan dengan brand dan distributor, serta memungkinkan mereka untuk menjadi ekosistem pengecer digital.

Artinya, sinergi akan tetap terjalin, Warung Pintar dapat lebih fokus pada upaya digitalisasi para retailer-nya, sedangkan Bizzy fokus dalam melayani para mitra brand dan distributor.

“Setelah masuknya Bizzy sebagai bagian dari Warung Pintar, nantinya tidak akan ada pemain lain terintegrasi ke dalam rantai pasokan kami. Dengan begitu, kami dapat melayani brand dan distributor dengan value added yang belum pernah ada sebelumnya serta strategi berbasis data dalam skala besar,” tutur Andrew.

Berdiri di 2017, Warung Pintar menawarkan solusi masalah dihadapi pelaku usaha mikro yang selama ini menjadi fondasi perekonomian Indonesia dengan kontribusi sebesar 70% terhadap total transaksi ritel di Indonesia. Adapun, akuisisi ini akan menggabungkan dua perusahaan yang telah bekerja sama dengan 600 merek dan melayani 230 ribu retailer di 65 kota seluruh Indonesia.

Willson juga melihat adanya peluang sinergi dan efisiensi yang bakal tercipta dengan bergabungnya kedua perusahaan ini. “Warung Pintar adalah platform dari sisi permintaan, sedangkan Bizzy dari sisi suplai. Jika digabungkan, mereka dapat melayani konsumen, pengecer, dan merek dengan cara yang paling efektif. Ini benar-benar 1+1=3,” tuturnya dalam keterangan resmi.