Ula: Why Jeff Bezos is betting on this Indonesian e-commerce start-up

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Indonesian e-commerce startup Ula is a wholesale marketplace aimed at modernizing the country’s millions of mom-and-pop kiosks, or warungs, by providing inventory and delivery services as well as financing. Founded in January 2020 by CEO Nipun Mehra, the company has thrived on a pandemic-induced digital switchover, raising more than $ 117 million in funding so far from big names like Tencent and Lightspeed Venture. Partners. One of them is Bezos Expeditions, whose billionaire owner was told about Ula by one of the startup’s early backers. In a region where Amazon has a limited presence, Jeff Bezos’ investment of an undisclosed sum through his family office can be seen as a vote of confidence. “If you had asked me back then that there would be a day, you know, 15 years later, where that moment would come, I probably would have been like it was a dream,” Mehra said. , a former Amazon employee. CNBC do it. Watch the video above to find out how a former Amazon software engineer and his co-founders are reinventing e-commerce for a new market and getting serious funding as they go. #CNBC —– Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz Like our Facebook page: https://www.facebook.com/cnbcinternational Follow us on Instagram: https://www.instagram.com/cnbcinternational/ Follow us on Twitter: https://twitter.com/CNBCi

Mon, 01 Nov 2021 12:00:30 GMT



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