Why The Biggest Indonesia Venture Capital Invest in hmm… Rich Brian
Even when he does not appear at most rapper at all
It was middle of summer in 2016, where all the Jakarta cool kids gathered and celebrated their existence. I was standing in queue line outside the hippest festival on that summer, We The Fest. I saw many of this cool kid worn the coolest outfit they could wear, or something they possibly found on the coolest Instagram influencer, or something that they just found on Pinterest.
So, here I am -a twenty-something guy- surrounded by teenage angst while most of them are still on their early 20s, or not yet mature to smoke some cigarettes.
I can hear a loud bass sound blasted and the crowd already scream two words, “Dat Stick.” The intro is so familiar to my ear. Couple weeks before, that intro is stuck in my mind everywhere I go. People raised their hand above the sky, while others are pointed their sophisticated phone to the stage.
Rich Chigga is on stage.
His deep baritone tone was rapping about poverty and other utopic life. While in the mids of the song he shouted “F**k the Police” and made everybody gone wild. This guy is in serious trouble.
Going forward to the present days, Indonesian should be proud of him. After all, Indonesia has a singer whose conquer the global music industry, like literally. He set a new bar for Indonesia musician who wants to go international.
It was Brian Immanuel or formerly known as Rich Chigga, now carrying the name Rich Brian. His figure began viral after a Dat $tick video clip that was brought in 2016 and become a global conversation.
Brian, who is only 17 years old, was initially a comedian. He studied English only through the internet and now revered as one of the most dangerous talents in the hip-hop realm. In early 2018, after releasing a series of singles, Brian who now lives in the United States finally released a full album titled Amen.
His name is now aligned with many top names in hip-hop, like 21 Savage, Future, Post Malone, and other famous names. But, who would have thought of Brian’s success and fame, there was an important role of one of the most significant business institution behind him. This institution name is GDP Venture, a venture capital owned by Djarum Group whose it’s leader is the wealthiest man in Indonesia.
Not many know that GDP Venture invests in a management group that houses Rich Brian, 88 Rising. When the first time I knew that 88 Rising is one of GDP Venture portfolios it’s a bit strange to see it’s logo side by side with the other portfolios owned by GDP Venture, such as Blibli.com, Tiket.com, Kumparan, Opini.id, and most famous Indonesia unicorn Go-Jek. However, GDP Venture has its reasons related to their investment in 88 Rising.
According to Danny Wirianto, Chief Marketing Officer of GDP Venture, it takes an act of courage for his company to do some change, one of them in investing in 88 Rising. He pointed out that Djarum, which was initially a cigarette company, also dared to change and diversified its product, thus results in Djarum to be one of the largest companies in Indonesia.
For him, the recipes of how the companies become big and still can survive are to remain relevant. Indonesia saw many companies are closed last year because they are irrelevant for its market and customers. When the company already dares to change then, they must be agile and nimble in seeing the situation. He added that the brand also has to confront experiment and do new things out of its old habits.
There is no need to be ashamed If it fails. Also, making something must add some alternative variants. One that Danny emphasizes when a brand changes, never forget to assume the best and worst of what is likely to happen in the future.
So, what is the background of GDP Venture present intention towards the figure of Brian Rich?
Danny explains that there are more than 50% of the Indonesian population now connected to the internet. And, the way they adopt information has also changed. He did not deny that nowadays people have been lazy to read the news and choose more content in the form of video.
“Most people who access the internet is finding content that entertaining their self,” he said.
The rise of video content today is influenced by several things such as the price of a smartphone that is more affordable, better connection. He explains from the user side, that they want to see something different and can answer what their interest is.
GDP Venture which has a row of a portfolio that is engaged in the startup and media industry has successfully released several viral video content for Indonesian. For Danny, the keys to creating a viral content are known to find the right momentum and trends. GDP Venture had done that through Opini.id platform when the election of Jakarta Governor held last year. That momentum and trends are represented by the figure of Rich Brian.
“We used to invest in a consumer-driven company, but we suddenly invested in Rich Brian. In fact, he not looks like most rappers.”
Brian who appeared in the video clip Dat $tick does look different than the others. When rappers show off their tattoos, fancy clothes, gold necklaces, pistols, and sexy women. Brian is the antithesis of all the rapper that ever existed. Dorky face, pink polo shirt, fanny pack, shorts, walk in the neighborhood while pouring bottles of liquor to the ground.
Even GDP Venture knew that Brian is young, dorky, and not represented rapper at all, he has quality and originality. That kind of authenticity and originality that GDP Venture wants to embrace it’s business. They turn the characteristics of Brian into the stories. The fact is most of the Indonesian love stories.
Danny admits that the success of Brian is currently not the works GDP Venture alone, in addition to Brian talents who is so incredible, both in rapping and entertaining, it is also supported by its management in the United States, 88 Rising. When he released Dat $tick, Brian’s performance commented by some famous rapper. In fact, one of the most beloved hits maker in the industry -Pharrell Williams- sat with him in one session, Brian gives Williams a unique stone what Indonesia called ‘Batu Akik’- the one whose Thanos wore on Infinity Wars trailer.
While Brian’s first appearance still considered as a joke, now he turned into one of the media darling figures. Various well-known media such as Time, Forbes, New Yorker, and Pitchfork covered him. Her album sat on top music charts. One thing that Danny puts on Brian’s figure is originality and quality.
“We don’t pay people, but we get people to talk about him. We brought him famous from Pluit to the world.”
