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PT Bukalapak.com Tbk/ADR
PT Bukalapak.com Tbk, Indonesia's e-commerce platform founded in 2010 by Achmad Zaky, went public in a $1.5B IPO in 2021.
PT Bukalapak.com Tbk/ADR
PT Bukalapak.com Tbk was founded in 2010 by Achmad Zaky, Muhamad Fajrin Rasyid, and Nugroho Herucahyono in Jakarta. The company started as an online marketplace to help small Indonesian retailers sell goods digitally, initially operating without transaction fees. Wealth originated from the founders' technology entrepreneurship. Bukalapak's strategy centers on e-commerce for Indonesia's underserved MSME sector, with additional services including digital payments (BukaFintech), logistics, and virtual product sales. The platform listed on the Indonesia Stock Exchange in August 2021, raising approximately $1.5B in an IPO backed by investors including Emtek Group and Microsoft (per Bloomberg, 2021). The company also operates through an ADR program in the US under stock ticker 'BUKK'. The firm employs several thousand people across operations in Indonesia. The 2021 IPO provided liquidity for early backers, including Emtek Group which held a significant stake. No recent operational events in the last 24 months are publicly available. A key structural differentiator is Bukalapak's focus on 'mitra' — small roadside kiosks in Indonesia — as a distribution network for digital products, creating an omnichannel model that differs from pure e-commerce marketplaces. The company's ADR listing provides US investors indirect access to Indonesian MSME e-commerce.
General information
Firm type
other
Year founded
2010
AUM
Undisclosed
Location
Region
Asia
Country
Indonesia
City
Jakarta
Corporate office
Jakarta, Indonesia
Principals
Achmad Zaky
Co-Founder
Muhamad Fajrin Rasyid
Co-Founder
Nugroho Herucahyono
Co-Founder
Sector focus
Frequently asked questions
Who founded Bukalapak and what is their background?
Bukalapak was founded in 2010 by Achmad Zaky, Muhamad Fajrin Rasyid, and Nugroho Herucahyono. Zaky previously worked as a software engineer and built the platform initially as a hobby project to help small merchants sell online. The three founders are Indonesian technology entrepreneurs.
How is Bukalapak different from other e-commerce platforms in Indonesia?
Bukalapak focuses primarily on micro, small, and medium enterprises (MSMEs) and employs a 'mitra' model that partners with small roadside kiosks to sell digital products like phone credit and bill payments. This creates an omnichannel presence distinct from pure e-commerce competitors like Tokopedia or Shopee.
What is the relationship between Bukalapak and Emtek Group?
Emtek Group, an Indonesian media and technology conglomerate, was an early and significant investor in Bukalapak. Following the IPO, Emtek held a substantial ownership stake and has strategic partnerships with Bukalapak for synergies across media and e-commerce.
Does Bukalapak operate as a family office?
No. PT Bukalapak.com Tbk is a publicly traded company on the Indonesia Stock Exchange with an ADR program in the US. It is not a family office, though the founders' wealth has been generated through their equity in the company.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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