Bukalapak appoints chief strategy officer Teddy Oetomo as president

Indonesian unicorn Bukalapak has appointed chief strategy officer (CSO) Teddy Oetomo as its president, according to people familiar with the matter.

Bukalapak CEO Rachmat Kaimuddin is said to have made the announcement in an internal mail to employees on Monday, the people mentioned above said.

DealStreetAsia has reached out to Bukalapak for comment.

Oetomo will replace former president and co-founder Muhammad Fajrin Rasyid, who stepped down on June 20 and joined Indonesia’s largest telecom operator Telekomunikasi Indonesia (Telkom) as director of its digital business.

Rasyid became the third executive to step down from Bukalapak, following his other co-founders Achmad Zaky (former CEO), who resigned in December last year, and Nugroho Herucahyono (former CTO), who stepped down in April.

Rasyid’s move marked the exit of all three co-founders of Bukalapak.

Before joining Bukalapak, Oetomo served as head of the intermediary business at global asset management firm Schroders for three years. He worked for over eight years at Credit Suisse and as a lecturer at the University of Sydney for five years.

Some top executives to have joined the unicorn recently include former BBM CTO Mohan Krishnan as Bukalapak’s technology SVP; former Amazon senior software development manager Mohammad Alabsi as its VP of Engineering; former Adidas global brand communications lead Erick Wicaksono as the head of the marketing team; and former Commonwealth Bank Indonesia HR chief Bagus Harimawan as the chief of talent.

Last year, the e-commerce giant made headlines when the firm raised an undisclosed amount of funding in Series F round from South Korea’s Shinhan Group, Indonesian media conglomerate Emtek, and an undisclosed global institutional investor in early October.

Currently, Bukalapak has more than 92 million active users across the country. It currently serves over 2.5 million mom-and-pop shops and individual agents.

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

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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.