WhatWeLike is a social networking start-up in Indonesia, mainly engaged in fashion apparel. Today, WhatWeLike has just announced the acquisition of a local venture capital company East Ventures seed round of financing. According to WhatWeLike’s plan, the financing will be used to recruit new employees, the development of mobile terminal and the implementation of more radical expansion strategy.
WhatWeLike is established by Utomo, an Indonesian entrepreneur, Aswin Tanu, Aswin Tanu Utomo has also founded a network music portal called AdaDiskon before it was founded. AdaDiskon has now been established for 6 years, to provide consumers with a variety of music discount information, music festival information, etc.. In addition, Utomo has also established a healthy body spa electricity supplier company PlusKu, but the PlusKu in early 2014 has been closed, then at the end of 2014 Utomo into the WhatWeLike column.
"we want to help users find the best and most popular fashion products in Indonesia," Utomo said. "Now there are thousands of goods in the fashion market for customers to choose, and every day there are a lot of new fashion goods out. For consumers, want to identify what is the season of popular products increasingly become a problem."
WhatWeLike use their own visual ranking system, according to the degree of new products, whether necessary and other factors to rank. This sorting algorithm can help consumers choose the season’s most popular products.
East Ventures managing partner Willson Cuaca revealed that currently there are more than 43 million professional women in Indonesia. This is a huge potential market, Indonesia women will have an important impact on traditional retail stores and the future of new retail.
Cuaca also revealed that Indonesia’s per capita disposable income rose by 12.5% between 2010 and 2012, the fastest growth in Asian countries, according to
. In the Indonesian islands, in addition to daily necessities and cosmetics, fashion goods is one of the highest sales of goods.
WhatWeLike business model is to fashion shopping site diversion, and from the Commission, the Commission depends on the number of customers. But Utomo did not disclose how many users are currently WhatWeLike, but that from the beginning of January, the flow of the site every month there are 60% to 70% growth, conversion rate of about 8%.
in Indonesia, WhatWeLike’s competitors are many, including Shopious, Kleora, Oiffel and Zocko, etc.. But Utomo believes in the fashion market