Why Jeff Bezos is backing this millennial founder's Indonesian start-up (via CNBCMakeIt)
Billionaire Amazon founder Jeff Bezos made his first investment in a Southeast Asian e-commerce start-up last month.It's in a mom-and-pop shop start-up that's been around for less than two years.
"Usually in emerging economies, their income profile is such that they have to buy frequently and in small baskets. The moment you get into that dynamic, the traditional way of doing e-commerce doesn't work. You can't deliver a three-, four-, five-dollar basket to somebody's home and do it profitably ... so you have to find other ways of doing it."Indonesia, with its vast population and fast-growing economy, is seen as a huge opportunity for entrepreneurs and investors.
"For them to tap into offline supply chains is actually very inefficient. They have to go to the local market, spend hours figuring out what to buy, where to buy it from. By and large, they are very limited by the physical footprint that they can access," he added.Mehra wanted to simplify that process by creating a business-to-business platform that would enable stallholders to order stock at competitive rates and have it delivered to their store for a small fee.
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