Deep Dive: Why Bukalapaks IPO is a big deal for Indonesia
Founded in 2010, Bukalapak initially had trouble raising funds because \u201cnobody wanted to invest,\u201d co-founder and former CEO Achmad Zaky said during\xa0a fireside chat at the Tech in Asia Conference in 2019. He even considered closing the business after its first year, but he persevered instead and Bukalapak became a unicorn around eight years after its launch.
Last week, the ecommerce player notched another milestone: It\xa0went public on the Indonesia Stock Exchange\xa0\u2013 the first unicorn to do so \u2013 boosting its valuation to approximately US$7.5 billion.
On this episode of\xa0Deep Dive,\xa0Tech in Asia\u2019s Aditya Hadi Pratama and Simon Huang discuss the early days of Bukalapak, dive into the numbers behind its landmark initial public offering, and posit what\u2019s in store for the company\u2019s future.
More information on today's episode here: https://www.techinasia.com/deep-dive-bukalapaks-ipo-big-deal-indonesia
Featured reporter:
- Aditya Hadi Pratama, a\xa0Tech in Asia\xa0journalist based in Indonesia
- Simon Huang,\xa0Tech in Asia\u2019s industry analyst based in Singapore
Essential reading:
- Bukalapak\u2019s IPO, the largest ever on IDX, takes its valuation to $7.5b
- Visual: Bukalapak\u2019s decade-long journey to IPO
- Bukalapak is using this deck to make its case for a $1.5b IPO
- 9 highlights from Bukalapak\u2019s confidential investor deck
- Bukalapak\u2019s seed round pitch deck
- How Gojek and Bukalapak found the initial spark that turned them into giants
- Mitra Bukalapak\u2019s roadblock: Indonesia\u2019s FMCG giants
- Being no. 2 isn\u2019t a bad thing: Bukalapak\u2019s Achmad Zaky
- For more stories on Bukalapak, click\xa0here
Episode sponsor:
HVR\u2019s technology empowers organizations to realize their full potential with continuous, high-volume data movement between cloud-based and on-premise systems. Visit HVR\u2019s\xa0website to get fresh data when you need it: https://techin.asia/hvr