Bukalapak (BUKA IJ) - Empowering Mitra and Creating Shopfronts
Equity Bottom-Up202 Views, 06 Dec 2021 12:49
EXECUTIVE SUMMARY
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Bukalapak (BUKA IJ) released an impressive set of 3Q2021, driven by explosive triple-digit TPV growth in its Mitra business, which enables mom&pop stores (Warungs) in Indonesia, along with higher take-rates.
- The slower growth in marketplace was accompanied by lower S&M costs, as the company transforms this business towards an online specialty store model, which is gaining traction.
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Bukalapak (BUKA IJ) looks to be misunderstood by retail investors, presenting an opportunity after the post-IPO correction, with a number of new initiatives gaining momentum in Mitra and marketplace.