Singapore online printing startup Gogoprint buys Indonesia printing business

SINGAPORE-BASED Gogoprint has acquired Prinzio, an Indonesian printing startup specialising in commercial printing outsourcing, to boost the growth of its business in Indonesia.

In a media statement, Gogoprint said that Prinzio has been operating in Indonesia since 2016 and is backed by principal investor, East Ventures. The startup has worked with clients including Google, e-payments platform Ovo and e-commerce firm Tokopedia.

Gogoprint added that it singled out Prinzio due to its strong B2B customer base and core emphasis towards customer loyalty. The firm plans to invest in Prinzio's sales and marketing efforts to expand market share.

Prinzio's founder Riky Tenggara, a former Lazada and Rocket Internet executive, will come on board Gogoprint as co-founder.

So far in 2018, Gogoprint and Prinzio has partnered over 100 print vendors and have served over 2,500 customers from all over Indonesia. Gogoprint said the primary focus for 2019 will be increasing market share through online marketing efforts, broader and deeper offline efforts in consumer education, product portfolio extension and platform improvements.

David Berghaeuser, co-founder of Gogoprint, said: "Indonesia is South-east Asia's largest printing market and given its strong Internet penetration and stable economic growth, we can expect steady growth leading into 2019."

He added that Prinzio has established a sound business strategy to serve its print customers in a highly localised manner, with "strong retention metrics and impressive order sizes".

In October, Gogoprint bagged US$7.7 million in a Series A funding round led by OPG (Online Printing Group).