To stand up to the competition, Indonesia's Bukalapak must fix its low take rate

Bukalapak, which became the first Indonesian tech unicorn to list on the domestic stock market in July this year, has struggled to keep its share price afloat — the company’s stock closed at 515 rupiah apiece on Friday on the IDX, down 40% from its listing price of 850 rupiah.

The key to reversing this slide, and winning over retail investors, could lie in focusing more on the low take rate at Mitra Bukalapak — the company’s online to offline (O2O) arm, analysts say.

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