PRESS RELEASE: ABRARESTO.

COM CLOSES DOWN

- To be released Monday, October 5, 2015 8AM SG Time
This is to announce that AbraResto.com will be closing its services.
AbraResto.com, part of Abratable Pte. Ltd., officially launched late 2013, raised
seed funding early 2014 and by end 2014 it was the 2nd largest Food related
platform in Indonesia, 2nd only to Zomato (see a ComScore rankings below).

Key Measures

Geography :
Universe :
Time Period :

Indonesia
Home and Work
November 2014(3 MO. AVG.)

Target :

Total Audience
ABRARESTO.COM,FOODPANDA.C

Media :
ABRARESTO.COM,FOODPANDA.CO.ID,OPENRICE.COM,QRAVED....
O.ID,OPENRICE.COM,QRAVED....
Date :

1/16/2015

2015 comScore, Inc

Media

1 [P]
2 [P]
3 [M]
4 [P]
5 [P]
6 [P]

Total Internet : Total Audience

ZOMATO.COM
ABRARESTO.COM
OPENRICE.COM
YUKMAKAN.COM
FOODPANDA.CO.ID
QRAVED.COM

Total Unique
Visitors (000)
22,423
227
129
93
83
64
24

% Reach

Average Daily
Visitors (000)

100.0
1.0
0.6
0.4
0.4
0.3
0.1

9,287
10
5
5
3
3
1

Total Minutes
(MM)
22,846
1
0
0
0
0
0

Total Pages
Viewed (MM)
29,676
1
1
1
0
1
0

Total Visits (000)

776,522
344
150
154
96
103
31

Average Minutes
per Visit
29.4
4.2
2.8
2.5
1.9
3.6
2.0

MyMetrix Legend
[P]
Property
[M]
Media Title
[C]
Channel
[S]
Subchannel
[G]
Group
[SG]
Subgroup
[E]
Custom Entity
[N]
Ad Network
[A#]
Alternate Rollup
[X1]
Extended Network
[BSN]
Buy Side Advertising Network
[DSP]
Demand Side Platform
[EX]
Exchanges
[SSP]
Sell Side Platform
[NE]
Network Custom Entity
(u)
Partially Unified - Used to identify entities with at least one child entity that is Fully Unified, but
(U)
Fully Unified - Used to identify entities that are measured and reported completely based on
C
Census Only - Used to identify entities that are measured and reported completely based on
+
Used to identify entities with at least one child entity that is projected completely based on the
++
Used to identify entities that are projected completely based on the entity's census tagged data.
T
Used to identify entities where one or more child entity is projected based on census tagged data
[0]
This Entity is currently not tagged on any platform
[1]
This Entity is currently tagged on 1 platform
[2]
This Entity is currently tagged on 2 platforms
[3]
This Entity is currently tagged on 3 platforms
[4]
This Entity is currently tagged on 4 platforms
w/History
Trend combines media previously reported under different parent and/or different level.
*
Indicates that the entity has assigned traffic to certain pages in the domain to other entities
**
Indicates that the entity is an advertising network.
(v)
Indicates that the advertising network has been verified by comScore.
...
Indicates data used fell below minimum reporting standards and/or data not available.
N/A
Indicates data is not available in the data set for reporting for the specified time period.
#
Caution - small base may result in unstable projection.
##
Directional purposes only - base too unstable for reliable projection.

Attaining this with a minimal marketing spend was challenging, but we focused
on the often ignored middle-income consumer class and took a very community
driven approach to our marketing. We nurtured the community by reaching out to
them offline almost on a daily basis. Our team would talk to active users almost
every day through Line, whatsapp etc, says Ankur
For a site like AbraResto, success/transactions is measured by conversion of
traffic to reviews/ratings on the site. Thats our conversion rate, and it can be
expected to be lower than e-commerce conversions. AbraResto consistently
grew its conversion rate from 0.2% at launch to 2.1% by end of 2014. Another
key metrics is the number of listings (Points of Interest- POI) and AbraResto
probably has the largest database of POI data across 10 cities in Indonesia.

AbraResto received seed funding from Indonesian family investors in early 2014.
The total amount of funding was 1.5 million, of which USD 500k was in equity
and remaining in a debt facility. However the debt facility was cancelled later in
the year. As majority partners, the investors were relatively involved and actively
managed the company finances.

Extended Universe for online population in Indonesia estimated is different than comScore's Total

As all entrepreneurs know, fundraising is a constant ongoing process. We were

Average Visits
per Visitor
34.6
1.5
1.2
1.7
1.2
1.6
1.3

getting numerous interests from international investors, however the size needed
to be larger for it to be palatable. We realized that we needed a bridge round
prior to raising a full series A and raised interest from another Indonesian family
fund looking to make its first startup tech investment.
AbraResto closed a term sheet with the family fund in the beginning of May.
However, due to various reasons the deal was withdrawn later in mid-August.
Subsequently, Abraresto was not successful in closing other funding interests,
and due to its cash flow situation Abratable Pte. Ltd. has to unfortunately close its
operations.
Shutting down their startup is one of the toughest things any entrepreneur ever
has to go through. This is especially true for two reasons for us 1) the
remarkable team (A-team) and 2) having also bootstrapped the company
initially, mainly with personal funds, my personal time and monetary investment
has been significant.
However, the learning experiences gained from a tough battle are what make any
failed venture a success, in fact more so than an easy victory. There were many
learning experiences that can make for an interesting article in the future.
However, for now, I would like to thank our users, partners and above all the Ateam for an amazing ride. It was the team that kept us going through the tough
times.

All quotes above are from Ankur Mehrotra, Founder & CEO AbraResto.com

Below are some testimonials from a few of the ex-team of AbraResto who were
kind enough to share their comments about their experience:

Working at abraresto.com seemed like doing my job at home. The ambiance

and colleagues made time fly by. I learned lots from abraresto.com, especially
from the CEO, a young, smart and passionate guy. There is no better than
working with passion.
It was a pleasure being part of Abraresto.com
- Ida Bagus Sugiharta Pawitra
Senior Manager - PR & Marketing, PT Mustika Ratu Tbk

" AbraResto.com was a very exciting project. I was hired as head of partnerships.
Coming from a media background one of my main roles was to manage
partnerships with media in Indonesia. Within a short time AbraResto.com was
partnering with some of the biggest medias in Indonesia. It was because

AbraResto had great content and an excellent organization within the team with
partners.
I have worked in Indonesia for almost 5 years, and I can honestly say that the
CEO OF abraResto.com, Ankur Mehrotra & AbraResto team was the best team I
ever worked with. As a CEO, Ankur truly cares about his employees
professionally & personally. It was indeed a sad ending for AbraResto that we
had to close down but a work experience with Ankur & AbraResto was an
excellent experience for me.
-

Indah Ceylan
Head of Sales & Marketing at etobee.com

I had worked for AbraResto for over 6 months as a Digital Marketing Manager
under supervision of CEO Ankur Mehrotra. With Ankurs guidance I managed to
optimize our digital campaigns to one of the lowest CPCs I have seen, making it
extremely efficient campaigns. We had amazing ROI on our digital spend with
high quality acquisition.
AbraResto was the best place I have ever worked at. Not only did I gain new
enhanced experience but I also learned how to lead from Ankur.
- Pandu Megantara
Senior Digital Planner, Starcom Mediavest Group

For further enquiries, please contact Ankur at Ankur@abratable.com