Ms Purnomo's toughest challenge yet may be convincing investors that her company is here to stay and thrive. Blue Bird's shares traded at 2,590 rupiah in Jakarta on Friday. They reached an all-time high of 12,500 rupiah in January 2015, months after Blue Bird raised a modest US$200 million from an initial public offering.
Besides, her rivals can't replicate this model easily, Ms Purnomo said. Their asset-light model would require drivers to bear the financing costs of an expensive EV, a risky proposition for most individuals, she said. A representative for Grab didn't respond to request for comments. Ms Purnomo said the company now has the technical capability to fight back and the financial resources to challenge them, without elaborating on how she plans to raise capital. On the other hand, Grab has money to burn. Valued at US$14 billion, it is planning to raise more than US$4.5 billion in its latest funding round.
Ms Purnomo started working at Blue Bird in the mid-1990s. Groomed by her father for a key role in the family business, the engineering graduate held positions in maintenance, customer service and sales before taking a break to finish her master's in business administration at the University of San Francisco.
Source: News Formal (newsformal.com)
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »