[4][5][6] Its initial public offering (IPO) on the Indonesian Stock Exchange was the largest ever at the time, in 2021, when it raised up to US$1.5 billion, though it lost nearly 66% of its market value six months later.

[11][12] Bukalapak was co-founded in 2010 by Achmad Zaky after he graduated from the Bandung Institute of Technology, together with his friend Nugroho Herucahyono.

Hundreds of employees from its smart retail, internet of things, and marketing divisions were retrenched as part of a change in strategy.

[19] Kaimuddin is credited with recruiting blue chip venture capitalists and for leading the company's IPO in August 2021, which was the largest in Indonesia to date.

He resigned four months later after be appointed as Technology and Sustainability Development Special Advisor Deputy at Coordinating Ministry for Maritime and Investments Affairs.

Bukalapak's marketplace provides various types of products, both physical and virtual, covering various categories such as gadgets, hobbies, fashion, daily necessities, and games.

Additionally, there are financial services offered including insurance, loan financing, investment in mutual funds and gold, as well as digital banking.

According to a study conducted by Nielsen in 2022, Bukalapak leads digital penetration among small shops in Indonesia with a percentage reaching 56%.

[28][29] On the other hand, Bukatabungan is a digital banking application introduced by Bukalapak in collaboration with Standard Chartered, a British-based multinational financial services company.

[34] Following a shaky start, Bukalapak secured funding in June 2011 to keep its operations running, when Japanese venture capitalist Takeshi Ebihara from Batavia Incubator invested IDR 2 billion in the company.