Jakarta. Digital trading platform Blibli recorded a 98 percent hike in consolidated net revenue which reached Rp 10.5 trillion ($673.9 million) in the nine-month period starting in January compared to the same period of last year, the company announced on Thursday.
The announcement came two weeks after Blibli was listed on the Indonesia Stock Exchange under the trading code BELI, which literally translates as “buy”.
The company raised Rp 8 trillion in the initial public offering at Rp 450 per share, making it the second-biggest IPO of the year after the merger of ride-hailing company Gojek and e-commerce giant Tokopedia that went public as GOTO in April to earn Rp 13.7 trillion in fresh capital.
"During the first nine months of 2022, Blibli managed to boost the average order value to Rp 1,028,956 from Rp 714,570 in 2021," according to a statement from Global Digital Niaga, the company that runs Blibli.
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In addition, the total processing value (TPV) also jumped by 105 percent to Rp 40.6 trillion thanks to the contribution of subsidiary Tiket.com, Indonesia's fastest-growing travel booking platform.
Gross profit until the third quarter of 2022 soared by 167 percent to Rp 1.8 trillion year-on-year, the company said.
Throughout the year Blibli also opened "mono-brand stores" such as Samsung Experience Store and Hello, the latter especially provides products from US tech giant Apple, as well as "multi-brand stores" like Blibli Store and Tukar Tambah Store.
Another subsidiary, retailer Ranch Market, currently has 70 outlets across the country.