Indonesia’s Bukalapak eyes international markets with new platform

Bukalapak's Fajrin Rasyid at DEALSTREETASIA's Indonesia PE-VC Summit 2019 in Jakarta. Photo: Ipsita Ray/DEALSTREETASIA

Indonesia’s Bukalapak has become the country’s first e-commerce company to open its platform to foreign markets by launching a new feature that allows international customers to purchase products on its platform.

The new platform, called BukaGlobal, allows international users to buy directly from more than 4 million Indonesian sellers. At the moment, the feature is available in Singapore, Malaysia, Hong Kong, Taiwan and Brunei Darussalam, the company said in a statement.

BukaGlobal will allow consumers abroad to order products weighing a minimum of 0.5kg on the platform and receive it within 6-11 days. At the moment, only qualified sellers in Jakarta and Tangerang are able to offer BukaGlobal as part of their service, with more sellers set to participate soon.

According to Bukalapak co-founder and president Fajrin Rasyid, BukaGlobal was designed to address logistics challenges in the region such as high cost of postal and courier delivery.

“We want to break down barriers that hinder young and small entrepreneurs from competing on a global playing field, primarily on access, infrastructure, and connectivity. With BukaGlobal, Indonesian products are readily accessible by consumers anywhere in the world through a fast and reliable platform,” he said.

The geographical expansion by Bukalapak follows a series of vertical expansion moves the company has been undertaking of late.

In the past year Bukalapak has launched features such as video content (BukaNonton), Live TV, quiz and polls (BukaPolling) and even bike-sharing (BukaBike), to add to its fintech features like e-wallet (BukaDana), mutual funds (BukaReksa) and credit payment (BukaCicilan) and Modal Mitra (lending).

Its competitor and fellow Indonesian unicorn Tokopedia, meanwhile, has said that it will continue to focus on serving the local market. The company is also said to be in talks to acquire and invest in a number of local niche e-commerce startups, including used phone e-tailer Laku6, wedding marketplace Bridestory and agtech startup Sayurbox.

Another Indonesian unicorn, online travel platform Traveloka, recently announced its launch in Australia in the company’s first expansion outside of Southeast Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.