News and Info
Para Group Acquires Online Media Giant
Juli 1, 2011
Detik.com, the first and most
popular news website in Indonesia, has been
acquired by Para Group. Well, rumor on the
acquisition has already started spreading a
couple of days ago, thanks to Rama and his
team at DS.
Para Group is owned by Chairul Tanjung, one
of top 150 richest Indonesians (24th to be
exact, according to Globe Asia magazine)
with over $900 million in wealth. He also
owns a number of businesses, such as Bank
Mega, Trans Corp, and Carrefour Indonesia.
Para Group has been wanting to buy Detik
since two years ago, but for some reasons it
has been delayed until now.
According to Bisnis.com, the other investors
in Detik (besides Detik itself) are Tiger
Investment (39%) and Mitsui & Co (2%). They
wanted to sell their shares in Detik as they
hoped to use the money to expand their
business elsewhere. Their dream has finally
come true after two years.
With rumor stating that the acquisition sum
could hit around $60 million, this could be
one of the biggest acquisitions ever in the
start-up scene in Indonesia (beside the
Kaskus acquisition by GDP Ventures).
Detik.com was founded by Budiono Darsono and
Abdul Rahman with 100 mil IDR (approximately
$11,700), and has since become the largest
news site and one of the top 10 mobile sites
in the country. With this acquisition Detik
will be put under Trans Corpís wing.
Itís certainly a promising sign for other
start-ups and internet companies in
Indonesia to witness an acquisition of this
scale. If things continue as we think they
might, we could very well expect to see more
of such news from Indonesia in the future.