The archive · Consumer Apps · Product decision · 2023–2026
Jagat bets map social plus cash hunts can win Gen Z; 20M+ users, #1 in Indonesia
Zenly-style location social app from Singapore/Indonesia: 1M DAU in a month, 10M users by Dec 2023, then 2025 Coin Hunt hit #1 in Indonesia.
Jagat (Jagat Technology)
What the business is
Jagat is a location-based social app (Singapore HQ, Indonesia roots) that shows friends' real-time locations on an interactive map with avatars, statuses and messaging; its 'Coin Hunt' hides physical coins in public places that users redeem for cash.
Starting capital：Undisclosed Series A closed in October 2023 with Southeast Asian investors, including Northstar Group (first institutional investor) and Advance Intelligence Group (TechCrunch, Marketing Interactive).
How it started
Jagat Technology was established in early 2023 with HQ in Singapore by CEO Loy Xing Zhe and Barry Beagen, an Indonesian MIT/Cornell-trained architect, who met in December 2021. The app launched in March 2023 into the gap left by Snap's Zenly shutdown; the founders' premise was that social apps should push real-life connection again, and location sharing was the universal foundation.
What happened
Six weeks after MVP, Jagat hit 1M DAU; by December 2023 TechCrunch reported 10M users, 85% Gen Z, and an October 2023 Series A backed by Northstar Group and Advance Intelligence Group. In late 2024 Jagat ran its first cash Coin Hunt in Chengdu — 1,000 coins, 40K new users the next day, roughly 200K new users in ten days — then rolled it to Vietnam, Indonesia and Thailand. Jakarta's December 2024 hunt, with coins redeemable for Rp300K–Rp100M each and a total pool of Rp850M, pushed Jagat to #1 on Indonesian Google Play and iOS overall download charts for a week and paid for itself through clue purchases and memberships.
How it ended up
Live and scaling: 20M+ MAU / 3M DAU by Jan 2025, multi-country chart-topping hunts, and a stated plan to productize the hunt format with brands and IP.
Background
Jagat is a location-based social app established in early 2023 with headquarters in Singapore, founded by CEO Loy Xing Zhe and Barry Beagen, an Indonesian architect trained at MIT and Cornell. The app launched in March 2023 and shows friends' real-time locations on an interactive map with avatars, statuses and messaging — a close-friend social map in the mold of Snap's Zenly, which was being wound down. Marketing Interactive reported over 1 million daily active users within the app's first month.
By December 2023 TechCrunch reported 10 million users, 85% Gen Z, chart-topping positions in Japan, Taiwan, Vietnam, Spain, France and Singapore, and an undisclosed Series A closed in October 2023 with Southeast Asian investors including Northstar Group and Advance Intelligence Group. Growth ran on user-generated virality — invitation links shared across TikTok, X and Xiaohongshu — rather than paid acquisition.
In late 2024 Jagat added the Coin Hunt: physical coins hidden in public places, redeemable for cash through the app. After a Chengdu pilot (1,000 coins, about 200,000 new users in ten days), it rolled out to Vietnam, Indonesia and Thailand. Jakarta's December 2024 hunt — coins worth Rp300,000 to Rp100 million each, with a total prize pool of Rp850 million — made Jagat #1 on Indonesia's Google Play and iOS overall download charts for a week, lifted it to 20M+ monthly and 3M daily active users by January 2025, and paid for itself through clue purchases and memberships.
What has to be true
- Zenly's shutdown created a timed vacuum, and Jagat's near-drop-in positioning captured refugees fast — 1M DAU within six weeks of MVP.
- Location sharing is a universal, high-retention foundation: most active users checked the app 3–4 times a day, and 85% of users were Gen Z.
- Cash-backed hunts make the product the marketing: each event produced users, press coverage, chart ranks and paid clue revenue simultaneously, with campaigns breaking even.
- Focus discipline paid off: after a stranger-social feature hurt trust, Jagat cut back to close friends, map and immediacy, keeping the core product coherent.
What can be applied
A dead incumbent is a gift only if you move fast and own the positioning — then make the product the marketing: cash-backed hunts converted users into players, press and paying customers in one loop.
Aftermath
As of 2026-09-02, Jagat's latest verified position is 20M+ monthly and 3M daily active users (January 2025), with Coin Hunt events run across Indonesia, Vietnam and Thailand and chart-topping download weeks in each market. The company said it planned to productize the hunt format with brands and IP and move monetization up the roadmap. No further funding round, shutdown or acquisition has been reported in the sources opened for this case.
Sources
- Jagat, a location-based social network that focuses on real-life connections, surpasses 10M users
- Social platform Jagat reaches a million users in a month
- 沉迷“寻宝”的东南亚人，把这款出海App干上总榜Top1（Baijing interview）
- Viral Tren Mencari Koin Jagat Senilai Rp100 Juta
spotted an error? The archive wants to know.
Your turn
You just read one. Describe what you are building, and see who is betting on the same thing.
Free account · 3 free questions · no card