East Ventures on Instagram: "In 2016, Edy Sulistyo met Willson Cuaca to pitched his startup, @loketcom . There was an earlier pitch by a shareholder, but the discussion was moving too slow. At the time, we decided to discard the deal due to various red flags. . On the second time, however, Sulistyo clarified the previous situation and the dynamics between his shareholders and other venture capitalists. We don’t normally look back on our past decisions, but Sulistyo acknowledged that he was too naive the first time his startup approached us. The ability to do self-reflection and understand what went wrong are key traits of a successful startup founder. . Several months after our investment, Loket was in talks with @gojekindonesia to explore potential strategic collaboration on bringing Go-Tix, the ride-hailing unicorn’s ticketing arm, to the next level. . After several discussions, the two companies realized that they have the same vision for the entertainment industry’s disruption in Indonesia. The initial plan for collaboration then turned to acquisition, and the rest is history. . Following the acquisition, Loket essentially took over Go-Tix in addition to running its primary business, Loket for Business. . In 2018, it was being appointed the ticket management platform for the Asian Games and Asian Para Games. It assisted the official ticket vendor of the said events in handling the huge volume of transactions and coupon redemptions. The process was too slow, but Loket’s team brought their technology and execution muscle to the table. . In the same year, Loket launched Loket.com, a self-service event management platform for small and medium-sized enterprises. It has reached more than 1,000 events created per month, or more than 30 events per day, through Loket.com. . In a nascent ecosystem like Indonesia, a small and quick win like Loket’s acquisition can go really far. It will turbocharge the venture ecosystem and the flywheel will start to spin. . Link: bit.ly/EVloket . #eastventures #startup #venturecapital"