On Fri (29/6), Nadira from ANGIN attended Block71’s monthly KopiChat where Natali Ardianto (Co-founder of Tiket.com), moderated by Aryo Ariotedjo (one of ANGIN’s angel investor), talked about the exit strategy for a business.
Natali co-founded four startups, where two of them successfully exited. First was Urbanesia.com, a city directory, acquired by Kompas, the biggest media company in Indonesia. Second was Tiket.com, an Online Travel Agency, acquired by Blibli.com
Here are the key takeaways:
- You always need to plan the exit before you start your business. It’s easier to work backwards than trying to figure out things while you go. If you plan to sell your company, your aim is to have a large GMV. If you plan for an IPO, then your goal is to have net assets and an audited financial statements. An IPO exit was what Natali had in mind for Tiket.com
- For Natali, technology, marketing, and finance are the 3 most important aspects of building your business. He puts an emphasis on finance, stating that you need to be conscious about managing your money. At the end of the day, investors will always talk about money.
- Fun Fact: It only took him 3 months until Tiket.com got acquired. This is because Tiket.com’s finances are very detailed and thorough, they are even audited by Ernst & Young!
- Even if you aim for an IPO exit, it doesn’t mean you shouldn’t raise funds. Fundraising is like stages of life and a healthy fundraising (around once every 1-2 years) is necessary.
- You should hire a good and experienced CEO for your company since they would understand the effect of taking each decisions
We hope all attendees gained valuable lessons from this KopiChat! We look forward to the next one.