Indonesian startup Ula pauses operations for several months

JAKARTA -- Indonesian business-to-business marketplace Ula is currently in "hibernation" by pausing operations for "several months" due to tough economic conditions, sources told DealStreetAsia.

It is unclear when the pause will end but the company will be back with a new plan to focus on more scalable businesses. The startup is said to be exploring many options for now, including pivoting to supply chain financing as one possible scenario, according to multiple sources aware of the development.