Ooredoo broadens e-commerce strategy in Asia with partner Rocket Internet

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Lamudi’s property portal expands in Indonesia to create new revenue opportunities also for Ooredo. (Screenshot)
Lamudi’s property portal expands in Indonesia to create new revenue opportunities also for Ooredo. (Screenshot, click to enlarge)

The Asia-focused e-commerce strategy of Ooredoo and its German partner Rocket Internet is making rapid progress with another acquisition in short order. Lamudi, Rocket Internet’s and Ooredoo’s real estate portal for emerging markets, announced on June 18 that it has acquired Jakarta-based PropertyKita, a prominent local property portal in Indonesia, which now will be renamed Lamudi.co.id. According to the statement, the deal will add 100,000 listings from PropertyKita to Lamudi’s Indonesian portal which currently counts 120,000 listings, focusing – but not exclusively – on cities such as Jakarta, Bandung and Surabaya, as well as on property in Bali.

“With the capacity for strong economic growth in the long-term, Indonesia’s real estate industry has an abundance of opportunities. With the country’s tech-savvy, growing middle-class, Indonesia has the potential to become one of the world’s biggest online markets,” said Paul Philipp Hermann, co-founder and managing director of Lamudi Global.

This deal comes just three weeks after Lamudi’s acquisition of MyProperty.ph in the Philippines which will merge with Lamudi to a single portal.

The expansion is fueled by Lamudi’s fresh $18 million investment capital raised in February from its owners. The funding came from Asia Pacific Internet Group, a joint venture of Rocket Internet and Ooredoo, and the holding company of Lamudi.

Since its inception in October 2013, Lamudi has grown rapidly and today is officially present in 33 countries, of which six are in Asia: Bangladesh, Indonesia, Myanmar, Pakistan, Philippines and Sri Lanka. In the Middle East, there is a presence in Qatar, Saudi Arabia and Jordan. Altogether, Lamudi claims to have more than 900,000 residential and commercial property listing across its global platforms.

But Lamudi is just one of 36 brands in Rocket Internet’s online universe. Among others, there are fashion portal Zalora, food delivery portal Foodpanda, price comparison site Pricepanda, web shop Lazada, car portal Carmudi and taxi app Easytaxi, which are already well-established in several national markets and are – as far as their Asian business is concerned – all part of the Asia Pacific Internet Group, which was founded a little more than a year ago with the strategy to focus on ecommerce in emerging markets and “develop new revenue streams” from its meanwhile 13 online companies across 15 Asian countries where it operates.

While Rocket Internet is mainly developing the brands and takes care of the operative business, Ooredoo’s role is to provide investments and the network backbone. The Qatari company has two mobile phone operations in Southeast Asia, Ooredoo Myanmar and Indosat in Indonesia, both countries where growing smartphone penetration and limited fixed line infrastructure are reinforcing mobile as the preferred medium for ecommerce. This means that the target has to be to bring Rocket Internet’s brands on the region’s smartphones.

“Our e-commerce strategy with Rocket Internet is making good progress with initial investments in Asia,” Ooredoo group chief executive Dr Nasser Marafih told investors and analysts at the company’s annual capital markets day in Doha last month, adding that it complements Ooredoo’s mobile business-to-business strategy with the aim “to create new revenue opportunities.”

Apart from the Lamudi funding, other key milestones for the Asia Pacific Internet Group so far in 2015 included a $25 million funding round for online auto-classified site Carmudi, the creation of Philippine Internet Group in partnership with Philippine Long Distance Telephone Company, or PLDT, the country’s largest telecom firm, in January and another joint-venture with the latter to develop innovative mobile payment solutions for the global online market.

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Reading Time: 2 minutes

Lamudi’s property portal expands in Indonesia to create new revenue opportunities also for Ooredo. (Screenshot, click to enlarge)

The Asia-focused e-commerce strategy of Ooredoo and its German partner Rocket Internet is making rapid progress with another acquisition in short order. Lamudi, Rocket Internet’s and Ooredoo’s real estate portal for emerging markets, announced on June 18 that it has acquired Jakarta-based PropertyKita, a prominent local property portal in Indonesia, which now will be renamed Lamudi.co.id. According to the statement, the deal will add 100,000 listings from PropertyKita to Lamudi’s Indonesian portal which currently counts 120,000 listings, focusing – but not exclusively – on cities such as Jakarta, Bandung and Surabaya, as well as on property in Bali.

Reading Time: 2 minutes

Lamudi’s property portal expands in Indonesia to create new revenue opportunities also for Ooredo. (Screenshot)
Lamudi’s property portal expands in Indonesia to create new revenue opportunities also for Ooredo. (Screenshot, click to enlarge)

The Asia-focused e-commerce strategy of Ooredoo and its German partner Rocket Internet is making rapid progress with another acquisition in short order. Lamudi, Rocket Internet’s and Ooredoo’s real estate portal for emerging markets, announced on June 18 that it has acquired Jakarta-based PropertyKita, a prominent local property portal in Indonesia, which now will be renamed Lamudi.co.id. According to the statement, the deal will add 100,000 listings from PropertyKita to Lamudi’s Indonesian portal which currently counts 120,000 listings, focusing – but not exclusively – on cities such as Jakarta, Bandung and Surabaya, as well as on property in Bali.

“With the capacity for strong economic growth in the long-term, Indonesia’s real estate industry has an abundance of opportunities. With the country’s tech-savvy, growing middle-class, Indonesia has the potential to become one of the world’s biggest online markets,” said Paul Philipp Hermann, co-founder and managing director of Lamudi Global.

This deal comes just three weeks after Lamudi’s acquisition of MyProperty.ph in the Philippines which will merge with Lamudi to a single portal.

The expansion is fueled by Lamudi’s fresh $18 million investment capital raised in February from its owners. The funding came from Asia Pacific Internet Group, a joint venture of Rocket Internet and Ooredoo, and the holding company of Lamudi.

Since its inception in October 2013, Lamudi has grown rapidly and today is officially present in 33 countries, of which six are in Asia: Bangladesh, Indonesia, Myanmar, Pakistan, Philippines and Sri Lanka. In the Middle East, there is a presence in Qatar, Saudi Arabia and Jordan. Altogether, Lamudi claims to have more than 900,000 residential and commercial property listing across its global platforms.

But Lamudi is just one of 36 brands in Rocket Internet’s online universe. Among others, there are fashion portal Zalora, food delivery portal Foodpanda, price comparison site Pricepanda, web shop Lazada, car portal Carmudi and taxi app Easytaxi, which are already well-established in several national markets and are – as far as their Asian business is concerned – all part of the Asia Pacific Internet Group, which was founded a little more than a year ago with the strategy to focus on ecommerce in emerging markets and “develop new revenue streams” from its meanwhile 13 online companies across 15 Asian countries where it operates.

While Rocket Internet is mainly developing the brands and takes care of the operative business, Ooredoo’s role is to provide investments and the network backbone. The Qatari company has two mobile phone operations in Southeast Asia, Ooredoo Myanmar and Indosat in Indonesia, both countries where growing smartphone penetration and limited fixed line infrastructure are reinforcing mobile as the preferred medium for ecommerce. This means that the target has to be to bring Rocket Internet’s brands on the region’s smartphones.

“Our e-commerce strategy with Rocket Internet is making good progress with initial investments in Asia,” Ooredoo group chief executive Dr Nasser Marafih told investors and analysts at the company’s annual capital markets day in Doha last month, adding that it complements Ooredoo’s mobile business-to-business strategy with the aim “to create new revenue opportunities.”

Apart from the Lamudi funding, other key milestones for the Asia Pacific Internet Group so far in 2015 included a $25 million funding round for online auto-classified site Carmudi, the creation of Philippine Internet Group in partnership with Philippine Long Distance Telephone Company, or PLDT, the country’s largest telecom firm, in January and another joint-venture with the latter to develop innovative mobile payment solutions for the global online market.

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