Bukalapak Reportedly Aims for IPO, Enhancing Business Diversification

The news about a local unicorn planning for an IPO has spread, it's coming to Bukalapak. According to a Bloomberg source, it started to explore the potential to go public on the IDX (at low shares), then continue to take it on the US stock exchange through the SPAC scheme. The company is said to be in discussion with several blank check companies and has started working with investment banks to explore.

Through SPAC, Bukalapak's valuation is to reach $4-5 billion from the current value at $3.5 billion. Apart from Ant Group, GIC, and EMTEK Group, Bukalapak is supported by a number of investors and corporations including GIC, Naver Corp, Microsoft, and Standard Chartered. In Indonesia itself, according to research findings, Bukalapak is in third place after Shopee and Tokopedia - with an online marketplace high-tension competition with fast business dynamics.

In order to confirm, DailySocial is in contact with Bukapalak's President, Teddy Oetomo. However, he avoids commenting on this matter. Meanwhile, the company representative said that after 11 years of operation, they are now focused on building a sustainable business to create a long-term impact on MSMEs and the Indonesian people through reliable online and online-to-offline platforms.