Gogoprint acquires Prinzio to accelerate business momentum in Indonesia
REGIONAL online printing startup, Gogoprint on Dec 12 announced it has entered into a definitive agreement to acquire Prinzio, an Indonesian printing startup specialising in commercial printing outsourcing.
The acquisition and integration of Prinzio’s Indonesian-based operations will allow Gogoprint to significantly accelerate its growth in the Asia Pacific and boost its local presence in Indonesia.
Founded by Riky Tenggara, a former Lazada and Rocket Internet executive, Prinzio has been operating in Indonesia since 2016 and is backed by principal investor, East Ventures.
In its two years, the startup has worked with iconic Indonesian companies such as Google, Matahari Mall, IDN Times, OVO, aCommerce, Tokopedia, Berrybenka and Bhinneka.com.
Out of multiple online printing businesses in Indonesia, Gogoprint identified Prinzio as a winning business model, due to its strong B2B customer base and core emphasis towards customer loyalty.
Under the terms and conditions of the acquisition, Gogoprint plans to heavily invest into Prinzio’s sales & marketing efforts, to further increase its market share in Indonesia with Tenggara coming on board as a co-founder at Gogoprint.
Prinzio’s staff will remain fully employed with plans abound to grow the team aggressively, existing Prinzio customers will be gradually on boarded onto the Gogoprint platform.
The acquisition also puts Prinzio on a clear track to become a market leader in Indonesia, utilising Gogoprint’s proprietary algorithmic software and AI functionality to create, manage and execute high-quality printing services at competitive prices for small and medium-sized businesses.
“We are pleased to welcome Prinzio into the Gogoprint network and look forward to working with Riky and his team,” said David Berghaeuser, co-founder at Gogoprint.
“Indonesia is Southeast Asia’s largest printing market and given its strong internet penetration and stable economic growth; we can expect steady growth leading into 2019. Prinzio has established a very sound business strategy to serve its print customers in a highly localised manner with strong retention metrics and impressive order sizes.
“Gogoprint will use its extensive experience and strengths in customer acquisition to help Prinzio acquire new customers even faster and help the business to achieve true scale.”
“The Prinzio team is delighted to become a part of the regional Gogoprint family,” said Tenggara.
“Through a combination of Prinzio’s local market expertise and existing networks, and Gogoprint’s focus on operational, marketing, and technological excellence proven in different markets, we feel confident that we can conquer the Indonesian market together and I very much look forward to seeing it happen.”
So far in 2018, Gogoprint and Prinzio have partnered with over 100 print vendors and have served over 2,500 customers from all over Indonesia.
The primary focus for 2019 will be increasing Gogoprint’s market share through continued online marketing efforts, broader and deeper offline efforts in consumer education, product portfolio extension and platform improvements.
Its acquisition of Prinzio with its deep understanding of the Indonesian market will enable Gogoprint to deliver high-quality printing services and outstanding customer service, and in doing so, winning the trust of Indonesian customers.