Emtek makes series B investment in online marketplace BukaLapak

Emtek Group, the second largest media firm in Indonesia, has announced a series B investment in local online marketplace BukaLapak, though financial details were undisclosed. This follows its series A round, which BukaLapak raised in February 2014. Series A investors were price comparison site Aucfan, IREP, 500 Startups and GREE Ventures.

BukaLapak founder Achmad Zaky says these new round of funding will go towards talent acquisition, marketing to grow brand awareness and further customer acquisition. Sutanto Hartono, CEO of Emtek, confirmed that operational control remains with Zaky and the current management, while Emtek will maintain a minority stake.

Following this series B, Zaky aims to acquire more Indonesian SMEs as vendors on its marketplace, implying a possible step towards shift from being a consumer-to-consumer (C2C) marketplace to a business-to-consumer (B2C) platform.

Emtek’s purpose for acquiring a stake in BukaLapak is for the synergy gained from having its ‘as-seen-on-TV’ online shop, O Shop,  becoming a merchant on BukaLapak’s marketplace. Emtek’s media assets may also serve to boost traffic to BukaLapak’s website.

According to Zaky, BukaLapak facilitated more than Rp 1 trillion (US$80 million) in transactions during 2014. The gadgets, fashion and hobby verticals recorded the greatest sales volumes, with BukaLapak’s merchants reaching 163,000 sellers at the beginning of 2015.

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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.