Bukalapak facts for kids
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Trade name
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Bukalapak |
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| Public company (Perseroan terbatas) | |
| Traded as | IDX: BUKA |
| Industry | Technology |
| Founded | 10 January 2010 |
| Founders |
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| Headquarters |
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Indonesia
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Key people
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| Revenue |  Rp1,9 triliun (2021) |
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Number of employees
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2.962 (2022) |
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PT Bukalapak.com Tbk, known simply as Bukalapak, is a big e-commerce company from Indonesia. It started in 2010 as an online place for small and medium businesses (SMEs) to sell their products. Later, Bukalapak also helped small family-owned shops, called warungs in Indonesia, to go digital.
Today, Bukalapak works with about 25% of all warungs in Indonesia through its Mitra program. As of 2021, over 100 million people use Bukalapak. It also has seven million partners and handles more than two million transactions every day.
Bukalapak is one of the biggest e-commerce companies in Indonesia. It was the fourth startup in the country to become a unicorn. This means its value grew to over one billion US dollars. In 2021, Bukalapak had the largest ever initial public offering (IPO) on the Indonesian Stock Exchange. An IPO is when a company first offers its shares to the public. It raised about US$1.5 billion at that time.
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How Bukalapak Started
Bukalapak was co-founded in 2010 by Achmad Zaky and his friend Nugroho Herucahyono. Zaky had just finished studying at the Bandung Institute of Technology. The name "Bukalapak" means "open a market stall" in Indonesian. Another friend, Fajrin Rasyid, joined them to manage the company's money. Their main idea was simple: to help small businesses sell things online.
In its early days, Bukalapak became very popular when fixie bikes were trendy. Many sellers used the platform to sell bikes and bike parts. This helped Bukalapak grow its number of users. People who sell on Bukalapak are often called "pelapak." By 2013, the company was handling about IDR 500 million (around US$35,000) in sales every day. It was working with over 80,000 sellers.
In late 2019, Achmad Zaky decided to step down as CEO. He officially left in January 2020, and Rachmat Kaimuddin took over. Nugroho Herucahyono, the other co-founder, also left his role as CTO. He later started a fund with Zaky to help new startups. Fajrin Rasyid left in June 2020 to join Telkom Indonesia.
After the co-founders left, Bukalapak made some changes to its business plan. This led to some employees leaving the company. Rachmat Kaimuddin helped Bukalapak get investments from important venture capitalists. He also led the company's big IPO in August 2021. He resigned a few months later to take on a special advisor role in the government. Willix Halim, who was the Chief Operating Officer, then became the new CEO.
What Bukalapak Offers
Bukalapak started as just an online marketplace. Now, it's a platform that helps both online and offline businesses. It serves about 130 million users and 16.8 million small and medium business partners. This makes it one of the biggest e-commerce companies in Indonesia.
Bukalapak's main services include:
- Marketplace: This is where you can buy many different products. These include electronics, items for hobbies, fashion, daily needs, and games.
- Online to Offline (O2O): This part of the business is called Bukalapak Partners. It helps local communities and small shops sell both physical and digital products. It also offers basic financial services, like sending money or paying bills, for people who don't have bank accounts. A study in 2022 showed that Bukalapak is used by 56% of small shops in Indonesia.
- Business to Business (B2B): This helps businesses buy and sell from each other.
- Financial Services: Bukalapak offers services like insurance, loans, and ways to invest in mutual funds and gold. It also has digital banking.
- Logistics: This helps with shipping and managing goods.
More About Financial Services
Bukalapak's financial services include BMoney and Bukatabungan.
- BMoney is an online app for investing. It's owned by Buka Investasi Bersama. Users can buy and sell shares of different companies in Indonesia. Since it started in 2020, BMoney has helped almost 1 million investors. They manage over Rp1 trillion (about US$65 million) in investments.
- Bukatabungan is a digital banking app. Bukalapak created it with Standard Chartered, a big international bank.
Helping with Shipping
In 2019, Bukalapak launched BukaSend. This service lets Bukalapak partners become shipping agents. You can use BukaSend through the Bukalapak app to send packages without going to a shipping office.
Since 2020, Bukalapak also has BukaGudang. This service helps sellers manage their products. It includes storing goods in warehouses, packing them, and sending them to customers.
How Bukalapak Gets Money
After a tough start, Bukalapak received its first major funding in June 2011. Takeshi Ebihara, a venture capitalist from Japan, invested IDR 2 billion (about US$140,000). He was a mentor to the co-founders.
In February 2014, a big Indonesian company called Emtek also invested in Bukalapak. Emtek bought a share of less than 20% in the company. By July 2020, Emtek owned the largest share of Bukalapak, with 35.17%. Bukalapak also received money from other investors like Aucfan, IREP, 500 Startups, and GREE Ventures.
In January 2019, Bukalapak announced more funding from Mirae-Asset-Naver Asia Growth Fund. This is a joint company between South Korean companies Mirae Financial Group and Naver. In November 2020, Microsoft invested US$100 million in Bukalapak. As part of this deal, Bukalapak agreed to use Microsoft Azure for its cloud services.
By June 2022, two-thirds of Bukalapak's income came from its partner companies. The other third came from its e-commerce marketplace. That month, the company also said that its income was expected to grow by over 60%.
Who Leads Bukalapak
| Role | Appointed |
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| President Commissioner | Bambang Brodjonegoro |
| Independent Commissioners | Bambang Brodjonegoro, Zannuba Arifah |
| Commissioners | Adi Wardhana Sariaatmadja, Lu Zhang |
| President | Teddy Oetomo |
| CEO | Willix Halim |
| CFO | Natalia Firmansyah |
Awards Bukalapak Has Won
Bukalapak has received many awards for its work:
- Fortune's Change the World 2022 – Fortune
- Glints Best Employers Award 2022 – Glints
- Best Company to Work For 2022 – HR Asia Awards
- Alibaba Cloud Awards 2022 – Alibaba Cloud
- Best Company to Work For 2021 – HR Asia Awards
- UN Women 2020 Asia-Pacific Women Empowerment Principles (WEPs) Awards – Gender Responsive Marketplace – UN Women
- Best Company to Work For 2020 – HR Asia Awards
- Perusahaan dengan Tingkat Pertumbuhan Tertinggi ke-14 di Asia Pasifik dan ke-2 di Indonesia 2020 (14th Highest Growth Company in Asia Pacific and 2nd in Indonesia 2020)
- CNBC Indonesia Award 2019 – The Best E-Commerce 2019 – CNBC Indonesia
- Best Company to Work For 2019 – HR Asia Awards
- The Best Contact Center Indonesia 2019 – Indonesia Contact Center Association
- Penghargaan Achmad Bakrie XVI 2018 – Teknologi dan Kewirausahaan (Achmad Bakrie Award XVI 2018 – Technology and Entrepreneurship)
- Youtube Pulse 2018 – Best Ads – Nego Cincai
- The Best Contact Center Indonesia 2018 – Indonesia Contact Center Association
- Citra Pariwara 2017 – Bronze – Digital Viral and Email Marketing
- Citra Pariwara 2017 – Silver – Digital Integrated Campaign
- Tangrams Awards – E-Commerce Asia Pacific
- PR Awards Marketing Magazine Southeast Asia 2017 – Best PR-led Integrated Communications & Best Direct-to-Consumer PR Campaign
- PR Indonesia Awards 2017 – Bronze – Program PR Sub Kategori Digital PR
- Millward Brown – Top 50 Most Valuable Indonesia Brands 2016
See also
- List of unicorn startup companies
