Head Legal Bukalapak

As for the challenges ahead, Poniman is optimistic: “E-commerce will continue to grow, but it also faces growing privacy concerns. We expect Criteo to help us meet the challenge of reaching high-quality users with relevant ads while adhering to global standards and conventions. The departure of the entire founding team of Bukalapak coincided with the dismissal of employees. Hundreds of employees in smart retail, Internet of Things and marketing have been laid off as part of a change in strategy. [19] Kaimuddin is credited with recruiting blue-chip venture capital and leading the company`s IPO in August 2021, the largest to date in Indonesia. He resigned four months later after being appointed Special Advisor for Technological and Sustainable Development at the Coordinating Ministry of Maritime Affairs and Investment. [20] Willix Halim, Chief Operating Officer of Bukalapak, assumed the position of CEO. [21] We envision a technology-driven economy where people have the opportunity to grow with the help of our innovative online and offline platforms, because everyone deserves equal opportunities to create a better life. Today, we have become a fully commercial platform with over 110 million users and 15 million MSME partners using our platforms and technologies for business activities.

Compared to large competitors with larger marketing budgets, Bukalapak needs to be strategic in allocating its resources and directing its efforts where they generate the most revenue. For the retailer, this includes focusing on its application. As of 2021, Bukalapak serves more than 100 million users and seven million partners, processing an average of more than two million daily transactions. [8] [9] [10] It is one of the largest e-commerce companies in Indonesia and the fourth startup to become a unicorn. [4] [5] [6] Its initial public offering (IPO) on the Indonesian Stock Exchange was the largest ever in 2021, when it raised up to $1.5 billion, although it lost nearly 66% of its market value six months later. [11] [12] We started as a marketplace platform and evolved into a fully commercial platform that empowered both users and communities as a single company: Buka. It`s us, a fully commercial company that is constantly evolving and innovating. Bukalapak wanted to increase the number of monthly and daily active users for its application, as well as the average order value. But with its wide variety of products and offerings, Bukalapak needed an ad-tech solution that could ensure they engaged and reached users with high accuracy and relevance. PT Bukalapak.com Tbk is an Indonesian e-commerce company. It was founded in 2010 as an online marketplace to facilitate e-commerce for small and medium-sized enterprises (SMEs). [2] [3] Bukalapak then expanded to digitize small family businesses, known in Indonesia as warungs.

[4] [5] [6] The company holds a stake in approximately 25% of Indonesian warungs through its Mitra program. [7] We continue to innovate to stay relevant. We are ready to make big bets in areas that we consider important and that have a significant impact on society. As of June 2022, two-thirds of Bukalapak`s revenue came from partner companies, with the remaining one-third from e-commerce. [25] This month, it also announced that losses for the year are expected to exceed $100 million, although revenues are expected to increase by more than 60%. [26] In February 2014, Indonesian conglomerate Emtek participated in Bukalapak`s Series A and invested less than 20%. Emtek`s financial statements in 2015 showed that Bukalapak received up to IDR 439 billion from Emtek. [22] As of July 2020, after adjustments, Emtek holds 35.17% of the company`s shares, the largest shareholder share. [14] Bukalapak has also received investments from Aucfan, IREP, 500 Startups and GREE Ventures. [23] In January 2019, Bukalapak announced the closing of an undisclosed financing round through Mirae-Asset-Naver Asia Growth Fund, a joint venture between South Korean companies Mirae Financial Group and Naver.

[24] In November 2020, Microsoft invested $100 million in Bukalapak as part of a deal in which Bukalapak would adopt Microsoft Azure as its preferred cloud platform. [10] Using the data as a guide, Bukalapak and Criteo developed the app retargeting campaign over time to achieve various goals in 2019, ranging from increasing return on ad spend (ROAS) by 17% to retaining monthly shoppers and retargeting dormant customers.