Bukalapak prepares IPO by 2026 at the latest

Bukalapak, one of the largest marketplaces in Indonesia, is preparing an initial public offering (IPO) plan on the Indonesia Stock Exchange (IDX) no later than 10 years from now or before 2026. In addition, within that period, it is expected to reach up to 30 million traders. (seller). This amount is more than half of the number of SME entrepreneurs recorded in the Indonesian Ministry of Cooperatives and SMEs which amounted to 57,9 million in 2015.

As previously reported, IDX encourages Bukalapak to become one of the pioneers of local startups conducting IPOs in the country together with Kaskus. However, at that time the news was denied by Achmad Zaky, CEO of Bukalapak.

[Read also: Bukalapak and Kaskus Clarify IPO Rumors (UPDATED)]

"In the next 10 years, we are targeting to be on the IDX. The IPO is a tool, don't use it as a goal, because we will use any tool to make Indonesian SMEs more advanced," said M Fajrin Rasyid, Co-founder and CFO of Bukalapak. , when found DailySocial in his office, Monday (29/8).

Regarding the target for sellers, he continued, from the data from the Ministry of Cooperatives, not all SMEs can do it feasible to be used as an online business. Therefore, his party has set a benchmark of around 25 million to 30 million of which have the potential to become sellers at Bukalapak.

"We predict that from the total SME entrepreneurs recorded by the Ministry of Cooperatives, around 25 million to 30 million of them are our target to be able to join as sellers at Bukalapak."

This year, Bukalapak targets the number of merchants who join to reach 2 million, the achievement until August 2016 has exceeded 1 million sellers. In the medium term, Bukalapak also targets the number of sellers to reach 2020 million by 10.

According to him, the strategy used by Bukalapak to attract more pelapak is by actively holding roadshows to cities in Indonesia, ground coffee with pelapak. Existing and prospective pelapak, and continue to update the discussion forum features that have been provided by Bukalapak. Another approach strategy, he continued, is still in the company's planning while following the development of Indonesian consumers.

This is because it is important to note that the current strategy by Bukalapak cannot be applied in the future. "We will continue to adjust the strategy according to the development of consumers and the Indonesian economy itself so that we can stay on target. At the same time, make us more aware so that we can still compete with other marketplaces."

Fajrin also said that in several years his party had ambitions to bring Indonesian SME products to the international market. However, until now, the plan is still in the company's internal review stage. Considering a lot of unfinished homework, for example increasing the level of education of sellers and buyers, improving the logistics system, and so on.

Education is one of Bukalapak's biggest homework assignments. Because, there are still many people who do not understand the concept of the marketplace and the difference between E-commerce or online classifieds. In addition, there are still many sellers who still use social media as the main base for their online sales.

However, when compared to the conditions from previous years, it is now better. This is because the level of penetration of the Indonesian people to the internet has been increasing, not to mention the increasingly affordable prices of smartphones and data packages so that internet access is easier to obtain.

"Our vision and mission for the next 10 years is to become the main partner for all SMEs in Indonesia, by embracing as many entrepreneurs as possible. Then, Bukalapak can become a brand that sticks out of everyone's mind when they want to sell and buy a product. Similar to the first YouTube often comes to people's minds when they want to watch online videos."

Keep improving business

Bukalapak, continued Fajrin, also continues to improve the business in order to get more users. Bukalapak is already available on desktop, Android, and iOS platforms. He claimed that Bukalapak's rating in the mobile application was one of the highest rated applications among other marketplaces.

Rating is one of the main benchmarks taken by Bukalapak in improving business quality for its consumers. However, this does not prevent Bukalapak from being biased because it prioritizes mobile applications over desktops.

According to him, prioritizing all marketing channel can make Bukalapak continue to maintain the quality of its services. He revealed, there is a trend that is expected to occur in the future, when consumers will return to using desktops instead of downloading applications on the internet smartphone-New.

"Even though it's just a research, we consider it a possibility. Because there is a possibility that consumers will be more selective in downloading applications on their smartphones because they might want to save storage and want to enjoy the experience. experience first by accessing via the desktop. If there are benefits, then they will download it. This is what makes us keep wanting to advance all of us channel which is owned."

In addition, Bukalapak will also regularly maintain the security of customer and company data by cooperating with companies internet security and hacker periodically. This is so that the potential for online crime can be minimized by Bukalapak while maintaining consumer convenience when transacting.

In terms of logistics, Bukalapak wants to continue to add partnerships with logistics companies so that the delivery time can be shorter at a more affordable cost.