Moxy has the strength in Thailand, whereas Bilna was considered a leading player in Indonesia. Since it would be hard for Moxy to enter Indonesia due to Bilna's deeper experience in the local market, the two merged to become Moxybilna.
The move focuses on the benefits of both companies as they make a play to compete in the women-focused online shopping experience in Southeast Asia.
Neither company is taking a clear lead over the other in this merger, according to the CEO of Moxy Group Jérémy Fichet. “As we strongly believe in synergies between both companies, we kept a fair balance in decision making power,” he explains.
Not long after that, MoxyBilna announced $15 million round of investment led by Indonesia’s Sinar Mas Digital Ventures (SMDV). Others include from Facebook co-founder Eduardo Saverin, Shanghai-based Gobi Partners Inc., Velos Partners and Ardent Capital LLC.
The company then transitioned to the name Orami in order to unify their brand regionally.
Having both Moxy and Bilna (Moxybilna), Orami dedicates itself as an e-commerce platform for people in Southeast Asia.
The brand name is a creation by both companies as they combine both Moxy’s and Bilna’s company values, explains Group CMO Shannon Kalayanamitr.
As part of the merger and the rebrand, the company moved its headquarter from Bangkok to Jakarta.
Orami claims to have around 3 million visits a month, with up to 12,000 orders on peak days. 75 percent of its shoppers are female. And the cash injection allows Orami to continue to compete in the costly e-commerce race.
