Bukalapak Acquires itemku, a Synergy to Boost Digital Asset Sales in the Game Industry
There are three main commitments in the synergy, covering aspects of the team, users, and project development
Bukalapak is acquiring itemku, an online platform marketplace for game-related digital products. This news was first confirmed by Khailee Ng, Managing Partner of 500 Startups, through uploads on his personal LinkedIn - it is known that 500 Startups are investing in both Bukalapak and itemku. Not long afterm, itemku team has also confirmed directly.
Previously, on May 11, 2021, Bukalapak also announced its strategic partnership with itemku, with a mission to facilitate access to the video game industry in Indonesia. Bukalapak's COO, Willix Halim said, "I realize that the need for home entertainment has increased during the pandemic, and itemku are doing a great job of understanding those needs. I hope that with our shared strength, we can help catalyze the need for digital gaming in Indonesia."
Meanwhile, itemku's Founder & CEO Denis Kim said, "Millions of Indonesians have used itemku for years. However, we want to go beyond just making digital entertainment inclusive. I fully agree with Bukalapak's vision to build an economy that is fair for all, and that's why we decided to collaborate with them. We want to have a big impact on hundreds of millions of Indonesians, just as they have done. Along with the social impact, I hope this collaboration can bring rapid development in this industry."
In this partnership, both itemku and Bukalapak will have a strong strategic collaboration commitment, including:
- Synergize the team: Bukalapak and itemku work together as a team.
- Reach more users throughout Indonesia: itemku products are widely distributed through the Bukalapak network including in rural areas.
- Doing new project development together: many types of new projects will be developed together.
itemku representative said, for now and in the future itemku will still stand as a separate entity. There is no plan to merge with the Bukalapak's marketplace. In a general note, itemku provides a marketplace service that allows users to buy and sell digital game assets. They also sell various vouchers for premium access to a game.
itemku is part of Five Jack, founded in 2014. In addition to 500 Startups, they also received funding from Bon Angels Venture Partners.
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