Elevenia
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Elevenia (elevenia.co.id) was an Indonesian e-commerce marketplace operated by PT XL Planet, a joint venture between telecom operator XL Axiata (50%) and South Korea's SK Planet (50%). Launched in March 2014, it grew to become Indonesia's third-largest e-commerce platform with nearly 35 million visitors per month and over 20,000 sellers, backed by roughly $60 million in shareholder investment.
02 / Elevenia FAILURE REASONS
Failure factors
Reporting linked Elevenia’s closure to intense e-commerce competition. Its former parent had earlier exited after the business failed to contribute profits, although that earlier exit is distinct from the later shutdown.
03 / EVENT HISTORY
Events in the structured record
- Product or service closed
The Elevenia marketplace closed its service on 1 December 2022.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
In 2017, following SK Planet's exit, XL Axiata sold its 50% stake in Elevenia to PT Jaya Kencana Mulia Lestari and Superb Premium Pte. Ltd. (Salim Group entities), saying the move would minimize the impact of losses Elevenia had suffered.
- 02
Elevenia was later listed among the Indonesian e-commerce platforms that closed, reportedly shutting down in or around 2022.