37 Bukalapak
BUKALAPAK
Company: Bukalapak
Brand Value: US $298 million
Headquarters: Jakarta
Year On Year Change: NEW ENTRY!
Industry: Retail
Year Formed: 2010
Bukalapak is an online marketplace whose name means “open stall”. It connects individual buyers and sellers of new and used goods and aims to have served 10 million people by 2025. It currently has 3 million users. The business has grown rapidly and is one of Indonesia’s “unicorn” companies, believed to be worth over US$1 billion, due to private investment. The brand focuses on small merchants and farmers, and uses TV, digital media, radio, and print to promote the service, often with a humorous tone. Ads have, for instance, taken the form of an apology to employers for distracting workers with their “80 percent sale” day. The current campaign pushes Bukalapak’s unique ability for buyers and sellers to negotiate prices. The taglines “Nego cincai” and “nego terus” encourage a casual or relaxed approach to negotiation.
