Startup Valuation by Venture Capitalists: An Empirical Study Indonesia Firms
Indonesia currently has four Unicorns companies that have reached $1 billion without entering into the stock market. These companies include: Go-jek, Traveloka, and market centers such as Bukalapak and Tokopedia. Indonesia is very likely to see more unicorns in the following years, with the most promising sectors such as: transportation, education, healthcare, and fintech. However, with the Indonesian landscape constantly changing, companies and investors need to keep updating themselves to stay competitive and to seize opportunities at the right time. Startup in Indonesia began to develop and became one of the government programs to continue to develop startups, there are a number of startups in Indonesia that have become unicorn status that greatly influence the current Indonesian economy. Startup helped foster economic growth and growth in Indonesia, capital and business model problems were the main problems for new startups in the early days to start their business. This research proved the previous research conducted by Adamo Jr. (2014 and Reis (2010) that there are several levels in the startup and its function towards the economy of a country, startups can be a pillar of the economy, especially in developing country economies that need good growth.