Cash-rich Bukalapak pursues selective strategy on investments to widen its ecosystem

Cash-rich Bukalapak pursues selective strategy on investments to widen its ecosystem

Mitra Bukalapak (Photo courtesy of Bukalapak)

Indonesia-listed all-commerce player Bukalapak has emerged as more than a marketplace platform since its $1.5-billion initial public offering in 2021 as it pursues strategic investments selectively to expand its ecosystem.

At the same time, the cash-rich tech major is following a conservative spending strategy, according to analysts tracking the firm. In fact, some local and foreign investors point to Bukalapak as having a “lazy balance sheet”.

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