Reality cheque: Indonesia's WIR plans virtual reality IPO

WIR is planning to list in Jakarta later this year. The fast-growing Indonesian startup is banking on its ability to create a virtual bridge between big brands and consumers on the populous archipelago.

As traditional shopkeepers struggle to compete with the rise of e-commerce giants, Jakarta-headquartered WIR is offering a solution virtual stores.

Housewives across Indonesia can open a franchise with the right to sell famous brands for as little as $18. Customers can browse in 3D digital shops for products as if they were in a physical store, plucking simulated products off the shelves while they navigate between aisles.

Popular smartphone games like Pokemon Go or Snapchat's suite of filters have opened peoples' eyes to the possibilities of augmented reality AR. In Indonesia, WIR has caught the public’s imagination by harnessing the digital world to help...

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