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Bukalapak 'closer to profitability' thanks to revenue growth
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Bukalapak CFO Muhammad Fajrin Rasyid (left) and vice president of marketing Bayu Syerli Rachmat demonstrate the Bukalapak payment system during a press conference in Jakarta on Dec. 5. (JP/Anton Hermansyah)
F
ollowing an impressive increase in transactions in 2016, local e-commerce platform Bukalapak says it is a step closer to profitability.
Bukalapak CEO and co-founder Achmad Zaky said the company had seen revenue grow sevenfold last year.
The transaction value rose by 400 percent to Rp 10 trillion for the whole year.
“This year we are optimistic about our growth, but for now our earnings and place can’t be compared to retail players like Carrefour, for example. But if we consistently grow at the rate we are now, we will reach or even surpass them in about three to five years,” he said at Bukalapak’s seventh anniversary celebrations on Tuesday.
The challenge for the platform now was to maintain its service quality by focusing on meeting the perfectionist expectations customers had of them, Zaky added.
He attributed part of his platform’s success to the public’s increasing interest in online shopping.
“The state of our growth also depends on the country’s economic condition. The year of 2016 was worse than 2015 in my opinion, because many are still wary of spending their money. But that didn’t stop us from growing,” he said.
The number of vendors in the platform also rose to 1.3 million in 2016, with a daily transaction value of Rp 50 billion. (bbn)
