4 min read

Daily Markup #48: Itemku’s 97% growth; Alodokter’s telemedicine boom; ESPL x OPPO partnership

500 Southeast Asia Team



Some startups are thriving in this moment of history.

Good game, well played

  • While the Covid-19 pandemic’s economic implications continue to be felt among certain businesses, digital-first platforms like 500-backed itemku are seeing a silver lining in this unprecedented storm.
  • The Indonesia-headquartered marketplace serves the buying and selling of digital products, focusing on gaming vouchers and items. Since the pandemic hit Indonesia in March, itemku has been experiencing a significant growth trajectory.
Credit: itemku
  • Its user base has increased by 78% says the company, with the number of new sign-ups seeing a sharp 97% rise.
  • Meanwhile, the uptick of in-game microtransactions for popular titles like Mobile Legends and PUBG Mobile is impacting itemku’s profit significantly, which has grown by 45% compared to the previous period.
  • The Android app launched last December is gaining popularity too. The number of installs has increased from an average of 2,800 to 5,100 per week.
  • As the world marches into the “new normal”, itemku is positive its growth spurt is here to stay.

Telemedicine boom

  • Telemedicine platforms like 500-backed Alodokter are helping Indonesians as they cope with limited physical access to medical resources.
  • Speaking to Channel NewsAsia, Alodokter CEO Nathanael Faibis says his platform has 1,000 doctors who are trained to answer Covid-19-related questions.
  • “We have a team of doctors to specifically deal with Covid-19 patients. They will have access to our doctors 24/7.”
Credit: Alodokter
  • After consultations, users can choose to schedule an appointment at one of the 1,300 hospitals Alodokter is working with.
  • Before the pandemic, the platform had 20 million monthly active users. Now the number stands at 30 million.
  • Launched in 2014, Alodokter has become a healthcare super-app allowing people to chat with doctors and medical professionals, book appointments, and manage their health insurance.

ESPL x Oppo

  • 500-backed esports network ESPL is joining hands with smartphone manufacturer Oppo and Malaysian telco company Digi to kickoff the first esports tournament in Malaysia since the easing of movement restriction orders in the country.
Credit: ESPL
  • Aptly named “OPPO Gaming Tournament Season 1”, the tournament will be hosted on ESPL’s online platform at espl.gg. The prize pool has been set at RM25,000, with RM10,000 in cash and RM15,000 worth of OPPO products.
  • In line with ESPL’s goal to uncover hidden esports talent, the tournament will be targeted at amateur gamers.
  • ESPL has been making strides in the esports scene globally. It has secured partnerships in Latin America and India to deploy its mobile-focused and online-focused tournaments to gaming enthusiasts.

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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

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500 Southeast Asia Team