Bukalapak
- π¦Became a unicorn2017
- πPeak valuation$7.6 Billion β21
- πBecame a Unitard2022
- πΈLast valuation estimate~$912M
The rise & fall
7 moments Β· 2010β2025The key moments, with employee sentiment along the way.
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; dated facts carry their source.
How it happened
Bukalapak was one of Indonesia's earliest e-commerce unicorns, a marketplace serving small 'warung' shops, and its August 2021 IPO was the country's biggest ever β raising $1.5B at a ~$7.6B listing value.
It never found profitability against Shopee and Tokopedia; the stock fell about 85%, and in March 2025 it shut its core physical-goods marketplace to focus on virtual products and bill payments, its market value settling near $0.9B.
Reviews from employees during the drift described strategy whiplash β business lines spun up and shut down within a year, reorgs nearly every quarter β and quiet cuts via gardening leave, even as staff kept praising the work-life balance and generous health insurance.
Source: Bloomberg / Jakarta Globe / companiesmarketcap (Indonesia's largest IPO Aug 2021, raised $1.5B, listed at ~$7.6B; -85% from IPO price; shut e-commerce marketplace March 2025; ~$0.9B market cap by 2026)
Founders & leadership
- Willix HalimCEO (led it through the 2025 marketplace shutdown; succeeded by acting CEO Natalia Firmansyah)
- Achmad Zakyco-founder & CEO (founded it out of Bandung Institute of Technology in 2010)
- Fajrin Rasyidco-founder & president (joined to run the finances)
Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.
