This 35-year-old turned a local Indonesian coffee stall into a unicorn startup — today it brings in $100 million a year
In college, Edward Tirtanata had a brewing love for coffee, so much so that he'd order "one huge cup" every day from either Dunkin' Donuts or 7-Eleven.
Today, the 35-year-old CEO and co-founder of venture-backed unicorn coffee company Kopi Kenangan, still has his cup of joe daily — except that he's upgraded it to three or more cups a day for "product testing" purposes.
What started as a local Indonesian coffee stall in 2017 has now become an international coffee brand worth over $1 billion, with more than 800 locations across Southeast Asia.
The company raked in over $100 million in sales in 2023, according to documents provided to CNBC Make It.
Within the span of seven years, Kopi Kenangan went from a local Indonesian coffee stall to a venture-backed unicorn coffee company.
Tirtanata grew up in the Indonesian capital of Jakarta.
But he moved to the U.S. in 2007 when he started college at Northeastern University in Boston, where he studied finance and accounting.
While he never enjoyed studying, he had the heart of an entrepreneur from the start.
"When I was a kid, I was definitely naughty — I didn't really study much," he told CNBC Make It. "But whenever there is an opportunity to make money or do businesses, I always [got] excited."
"It's not about the money — it's about the pleasure of doing it. It is something that really excites me until today," he said.
Even as a student, Tirtanata discovered a key business principle: "Buy low, sell high." He learned to sell Pokémon cards and gaming bots to friends at school for a profit. It was almost instinctive for him.
Inspired by his parents who were also entrepreneurs, Tirtanata always enjoyed the hustle of making his own in the world.
During his freshman year in university, he received