J&T Express Officially Has Unicorn Status With A Fund Valuation Of IDR 113.5 Trillion

J&T Express becomes a new unicorn startup in Indonesia (Jet.co.id)

JAKARTA - The logistics delivery company from Indonesia, J&T Express is now included in the unicorn category startups such as Gojek, Tokopedia, and others. J&T Express was entered by a CBInsight research institute on its official website.

CBInsight revealed that J&T Express has a valuation of up to 7.8 US dollars (around Rp. 113.5 trillion). The 'unicorn' category itself is given to startups that already have a total valuation of more than 1 billion US dollars (around Rp. 14.5 trillion).

The entry of J&T Express into the unicorn category accompanies other Indonesian startups, namely Gojek, Tokopedia, Traveloka, Bukalapak, and OVO. Even though it only has the status of a unicorn, J&T Express immediately ranks second after Gojek.

Based on a report from CBInsight, Gojek is still in the first position with the largest valuation value, then J&T Express. Currently Gojek has a valuation of 10 billion US dollars (around Rp 145.6 trillion). With such a valuation, Gojek is also a startup with a decacorn title.

Meanwhile, Tokopedia has a valuation of US $ 7 billion (around Rp.101.9 trillion). In fourth place is Bukalapak which has a valuation of 3.5 billion US dollars (around Rp. 50.9 trillion), in fifth position is occupied by Traveloka with a valuation of 3 billion US dollars (equivalent to Rp 43.6 trillion). In the final position is filled by OVO which has a valuation value of 2.9 billion US dollars or around Rp 42.2 trillion.

J&T Express (PT Global Jet Express) was founded in 2015 by two high-ranking OPPO officials, namely Jet Lee and Tony Chen. The first letters of the names of the two founders are the names of the company, namely J and T. Currently, J&T Express is headed by CEO Robin Lo. The logistics delivery company has an office base in Jakarta.

In 2017, J&T expanded massively to other Southeast Asian countries, namely Singapore, Malaysia, Vietnam, Thailand, Cambodia and the Philippines. Most recently it was reported that J&T is also expanding its wings in China.

There, J&T is growing rapidly and is predicted to have the potential to compete with Chinese logistics companies supported by Chinese e-commerce giant Alibaba.

Launching from The Information, on Thursday, April 15, recently, J&T Express was also reported to have received funds from 3 foreign companies with a total fund of Rp 29 trillion. The three companies are Hilhouse Capital and Boyu Capital and Sequoia Capital China.

In Indonesia, J&T is a shipping partner for various e-commerce companies such as Tokopedia, Bukalapak, Shopee, JD.id and Blibli.