Failed 2023
Ula
Tiger-Global-and-Bezos-backed Ula raised US$140M then shut down its core B2B Indonesia operations in 2023 — a major regional B2B e-commerce failure.
Founded → Closed
2020 → 2023
Funding Raised
$140M
Industry
B2B E-commerce
Country
Indonesia
Full Analysis
Jakarta-based Ula raised over US$140M from Tiger Global, Bezos Expeditions, Sequoia and Lightspeed to be Indonesia's leading B2B e-commerce for small retailers. By 2023 the company had laid off most staff, shut down operations in several Indonesian regions and pivoted heavily — a high-profile reset that destroyed most investor value. A defining Indonesian B2B failure.
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