Deep Dive: Why Bukalapak’s IPO is a big deal for Indonesia

<p>Founded in 2010, Bukalapak initially had trouble raising funds because “nobody wanted to invest,” co-founder and former CEO Achmad Zaky said during <a href= "https://www.techinasia.com/number-isnt-bad-bukalapaks-achmad-zaky?utm_source=article&utm_medium=website&utm_campaign=growth-podcast-bukalapak">a fireside chat at the Tech in Asia Conference in 2019</a>. 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.</p> <p>Last week, the ecommerce player notched another milestone: It <a href= "https://www.techinasia.com/bukalapak-boost-valuation-debut-ipo?utm_source=article&utm_medium=website&utm_campaign=growth-podcast-bukalapak">went public on the Indonesia Stock Exchange</a> – the first unicorn to do so – boosting its valuation to approximately US$7.5 billion.</p> <p>On this episode of <em>Deep Dive</em>, <em>Tech in Asia</em>’s 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’s in store for the company’s future.</p> <p><strong>Featured reporter:</strong></p> <ul> <li><a href= "https://www.techinasia.com/profile/aditya-hadi-pratama">Aditya Hadi Pratama</a>, a <em>Tech in Asia</em> journalist based in Indonesia</li> <li><a href="https://www.techinasia.com/profile/simon-huang">Simon Huang</a>, <em>Tech in Asia</em>’s industry analyst based in Singapore</li> </ul> <p><strong>Essential reading:</strong></p> <ul> <li><a href= "https://www.techinasia.com/bukalapak-boost-valuation-debut-ipo?utm_source=article&utm_medium=website&utm_campaign=growth-podcast-bukalapak"> Bukalapak’s IPO, the largest ever on IDX, takes its valuation to $7.5b</a></li> <li><a href= "https://www.techinasia.com/visual-bukalapaks-product-timeline-years?utm_source=article&utm_medium=website&utm_campaign=growth-podcast-bukalapak"> Visual: Bukalapak’s decade-long journey to IPO</a></li> <li><a href= "https://www.techinasia.com/visual-story/buka