JAKARTA, March 24, 2021 – This weekend (19-21 March), Migo ran a series of pre-launch events in Cirebon, Jawa Barat, opening Warung Migo at temporary locations around the city.
The response from Cirebon locals was enthusiastic, with many asking Migo to set up shop permanently. They spoke with their wallets, too. Each Warung Migo in Cirebon made approximately 10x the number of paid user transactions that Warung Migo in Jakarta typically see each day.
“Migo’s 100-store network in Jabodetabek already generates enough sales to be profitable on a contribution margin basis, even when competing head-to-head with the entertainment options and telco networks in Indonesia’s economic center,” said Dan Connor, President Director of Migo Indonesia. “In Cirebon, we’ve demonstrated demand 10x as high as in Jakarta. This shows that our business will accelerate more and ore rapidly as we grow into less well-served areas of Inodnesia.”
“Migo’s patented data distribution technology is 40x cheaper than telco, allowing people to access previously-unaffordable digital experiences. This works as well in Cirebon as it does in Jakarta, Mumbai, or Lagos. We look forward to expanding across Indonesia, launching in markets beyond, and closing the data divide for billions of emerging-market consumers,” said Barrett Comiskey, global CEO of Migo, and inventor of the E Ink technology used by the Amazon Kindle.
Migo has built disruptive technology that radically drops the cost of distributing digital content to the mass market, unlocking a $150 billion global revenue opportunity.
The company has invested tens of millions of dollars to develop an end-to-end solution with a durable and growing cost advantage vis-à-vis existing technologies and has extremely compelling unit-level economics.
Migo Indonesia launched in June 2020. Its product is sachet content-to-go, available via Warung Migo (wargo) hosted at convenient retail locations. It currently has 100 wargo in Jakarta.