Bukalapak

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PT Bukalapak
Bukalapak (2020).png
Type of site
E-commerce
Available inIndonesian
International
HeadquartersJakarta, Indonesia
Key peopleAchmad Zaky
Fajrin Rasyid
Nugroho Herucahyono
IndustryInternet
Employees2600[1]
URLwww.bukalapak.com
Alexa rankDecrease 183 (Global, August 2019)[2]
LaunchedJanuary 2010
Current statusActive

Bukalapak is a unicorn and one of the largest e-commerce companies in Indonesia.[3][4][5] Founded by Achmad Zaky, Nugroho Herucahyono and Fajrin Rasyid in 2010, Bukalapak initially started as an online marketplace to enable small medium enterprise go online.[6][7] The company expands into many areas beyond its origins, including online-to-offline solution by empowering traditional mom-and-pop stores called warung as its partners.[8][9] As of 2019, the company has more than 4.5 million SME sellers, 70 million monthly active users, 1.9 million warung partners, and averaging two million transactions per day.[10][11]

History[edit]

Former logo of Bukalapak, used from 2016 until 23 March 2020.

Bukalapak was founded in 2010 by Achmad Zaky with two of his college friends from Bandung Institute of Technology, Fajrin Rasyid and Nugroho Herucahyono.[12] Bukalapak allows users to digitally sell their goods without a large amount of capital and make transactions. Bukalapak’s first major success was when folding bicycles started trending in 2010. At that time there were many communities selling various types of bikes and biking accessories, which played a significant role in increasing Bukalapak’s users.

Bukalapak wants to embrace SMEs all over Indonesia and then International to utilize advanced technology to broaden their market reach. The nickname "Pelapak" is a common term used to call the sellers in Bukalapak. Bukalapak is also well-known for its efforts to embrace its pelapak communities all over the Indonesia and then International, which uphold the values of cooperation, togetherness, honesty, and thirst for knowledge.[13]

In September 2019, Bukalapak confirmed that it has laid off hundreds of employees. The layoffs were the result of an adjustment in strategy and efficiency improvements. The company is discontinuing its smart retail and internet-of-things divisions leading to job cuts among engineers.[14] The startup also shed some marketing roles because of overexpansion, but core functions like digital marketing remain unaffected.

Finances[edit]

Less than a year after being founded, Bukalapak received an additional capital from Batavia Incubator (a merged company from Rebright Partners, led by Takeshi Ebihara from Japanese Incubator and Corfina Group). In 2012, Bukalapak received another additional investment from GREE Ventures led by Kuan Hsu.[15]

In March 2014, Bukalapak announced that it received an investment by Aucfan, IREP, 500 Startups, and GREE Ventures.[16]

From Emtek's 2015 financial statements (49% owners of Bukalapak shares), it is known that Bukalapak has obtained investment fund from Emtek totaling up to Rp 439 billion. However, in 2015, Bukalapak is still losing Rp 229 billion, with revenues of Rp 6.4 billion.[17]

In January 2019, Bukalapak announced an undisclosed funding round by Mirae Asset-Naver Asia Growth Fund, a joint venture between Seoul-based Mirae Financial Group and Naver, the company behind LINE messaging service.[18]

Founders[edit]

  • Achmad Zaky (born in Sragen, Central Java, 24 August 1986) is the Founder and Chief Executive Officer (CEO) of Bukalapak since 2010.[19] On 6 January 2020, Achmad stepped down as CEO but remain as an advisor to the company.[20]
  • Muhammad Fajrin Rasyid (born in Jakarta, 11 September 1986) is the Co-Founder and the President of Bukalapak who is responsible for company’s initiatives, strategies, long-term plans and partnership with external parties.[21]
  • Nugroho Herucahyono (born in Karanganyar, 7 March 1987) is the Co-Founder and Chief Technology Officer (CTO) of Bukalapak. Like Zaky and Fajrin, Nugroho also graduated with a Bachelor of Informatics from Bandung Institute of Technology (ITB).[22]

Awards[edit]

  • Achmad Bakrie Award XVI 2018 — Technology and Entrepreneurship[23]
  • YouTube Pulse 2018 — Best Ads – Nego Cincai[24]
  • Citra Pariwara 2017 — Bronze – Digital Viral and Email Marketing[25]
  • Tangrams Awards — E-commerce Asia Pacific[26]
  • EY Entrepreneur of the Year — Achmad Zaky – Technology and Digital Category[27]
  • PR Awards Marketing Magazine Southeast Asia 2017 — Best PR-led Integrated Communications & Best Direct-to-Consumer PR Campaign[28]
  • YouTube — The Most Popular Video in Indonesia – Pendekar Jari Sakti (Medok)[29]
  • The President of Indonesia, Joko Widodo — A medal of honor Satyalancana Wira Karya[30]
  • Millward Brown — Top 50 Most Valuable Indonesia Brands 2016[31]

See also[edit]

References[edit]

  1. ^ Hafiz, Muhammad Perkasa Al (7 January 2019). "#BukaJalanPulang, Upaya Bukalapak Tarik Balik Diaspora Indonesia". Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  2. ^ "Bukalapak.com Competitive Analysis, Marketing Mix and Traffic". Alexa Internet. Amazon.com. Archived from the original on 16 August 2019. Retrieved 16 August 2019.
  3. ^ "Indonesia expects to have more than 5 unicorns by 2019: minister". Reuters. Archived from the original on 19 May 2019. Retrieved 28 June 2019.
  4. ^ "What are unicorn companies?". The Jakarta Post. Archived from the original on 17 June 2019. Retrieved 28 June 2019.
  5. ^ "Bukalapak officially becomes Indonesia's fourth unicorn startup". The Jakarta Post. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  6. ^ Putri, Liviani (23 July 2018). "Achmad Zaky Founded Bukalapak to Improve Small Businesses". Prestige. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  7. ^ "Indonesia's Newest Unicorn Now Wants to Take on the Big Boys". Bloomberg LP. 12 April 2018. Archived from the original on 1 August 2019. Retrieved 1 August 2019.
  8. ^ "Indonesia's Newest Unicorn Eyes Top Slot With Help From Kiosks". Bloomberg LP. 20 September 2018. Archived from the original on 1 August 2019. Retrieved 1 August 2019.
  9. ^ "The 9-year journey of Bukalapak: Growing beyond e-commerce". KrAsia. 10 January 2019. Archived from the original on 1 August 2019. Retrieved 1 August 2019.
  10. ^ "Bukalapak claims it's on track for $5b in GMV for 2019". Tech in Asia. 31 July 2019. Archived from the original on 1 August 2019. Retrieved 1 August 2019.
  11. ^ "Transaksi Tahunan Bukalapak Tembus US$5 Miliar". Bisnis Indonesia. 31 July 2019. Archived from the original on 1 August 2019. Retrieved 1 August 2019.
  12. ^ "Achmad Zaky – Endeavor Indonesia". endeavorindonesia.org. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  13. ^ "Bukalapak trains small entrepreneurs one city at a time". The Jakarta Post. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  14. ^ "Bukalapak sheds hundreds of smart retail, internet-of-things, and marketing roles". Tech in Asia. Archived from the original on 14 September 2019. Retrieved 11 September 2019.
  15. ^ "Tech in Asia - Connecting Asia's startup ecosystem". Techinasia.com. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  16. ^ "Bukalapak secures series A financing round from Japan's GREE Ventures". Dailysocial.id. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  17. ^ "EMTEK Suntikkan Dana Total 432,69 Miliar Rupiah ke Bukalapak.com". 4 May 2016. Archived from the original on 13 October 2017. Retrieved 20 February 2018.
  18. ^ "Bukalapak confirms new funding round by Mirae Asset-Naver Asia Growth Fund". 16 January 2019. Archived from the original on 18 May 2019. Retrieved 1 September 2019.
  19. ^ "Achmad Zaky Founded Bukalapak to Improve Small Businesses - Prestige Online - Society's Luxury Authority". Prestigeonline.com. 23 July 2018. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  20. ^ "Bukalapak CEO Achmad Zaky to step down on Jan 6". The Business Times. 9 December 2019. Retrieved 27 February 2020.
  21. ^ "#40Under40theVanguards: Fajrin Rasyid, co-founder and President of Bukalapak - Prestige Online - Society's Luxury Authority". 18 October 2018. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  22. ^ "Archived copy". Archived from the original on 1 March 2019. Retrieved 1 March 2019.CS1 maint: archived copy as title (link)
  23. ^ "Ini Empat Tokoh Penerima Penghargaan Achmad Bakrie XVI 2018". Viva.co.id. 14 August 2018. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  24. ^ Triwijanarko, Ramadhan (3 September 2018). "Masih Ingat Kampanye Nego Cincai Bukalapak? Seperti Ini Kisahnya". Marketeers.com. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  25. ^ Agustinus Mario Damar. "Video Kampanye Bukalapak Sabet 3 Piala Citra Pariwara 2017". Liputan6.com. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  26. ^ "Tangrams - Asia Pacific Marketing Effectiveness & Strategy - 2017 e-Commerce". Tangrams.asia. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  27. ^ "Archived copy". Archived from the original on 29 March 2019. Retrieved 1 March 2019.CS1 maint: archived copy as title (link)
  28. ^ "Winners - PR Awards 2017 Southeast Asia". Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  29. ^ "Mas Medok Pendekar Jari Sakti Masuk Top 3 Iklan Terpopuler". Liputan6.com. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  30. ^ Jeko I. R. "Bukalapak Raih Penghargaan Satyalancana Wira Karya dari Jokowi". Liputan6.com. Archived from the original on 29 March 2019. Retrieved 28 March 2019.
  31. ^ "Indonesia's most valuable brands outpace GDP with stellar 13% growth in BrandZ™ Top 50 Most Valuable Indonesian Brands 2018". Millwardbrown.com. Archived from the original on 29 March 2019. Retrieved 28 March 2019.

External links[edit]