Online printing platform Gogoprint has acquired Prinzio, an Indonesian startup specialising in commercial printers services, for an undisclosed sum.
Prinzio, Gogoprint’s main competitor in Indonesia prior to the acquisition, was established in 2016 and is backed by East Ventures.
Prinzio’s CEO and founder Riky Tenggara will join Gogoprint, and all Prinzio staff will retain their jobs. Existing Prinzio customers will be gradually onboarded to Gogoprint network.
With this takeover, Gogoprint is accelerating its growth in the Asia Pacific region. Gogoprint is currently active in Thailand, Singapore, Malaysia and Indonesia, with reported plans to expand to South Korea, Australia and New Zealand in the next 12 months after raising US$7.7million in series A funding in October from Online Printing Group.
“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,” said Gogoprint co-founder David Berghaeuser.
“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.”
So far this year, Gogoprint and Prinzio have worked with over 100 print vendors and served more than 2,500 customers in Indonesia.