Bukalapak Snaps up Majority Stake in Malaysia’s iPrice

Bukalapak Snaps up Majority Stake in Malaysia’s iPrice

by April 12, 2023

Indonesian e-commerce platform Bukalapak has acquired a majority stake in Malaysian price comparison platform iPrice. Details of the transaction was not disclosed.

This acquisition comes on the heels of Bukalapak’s decision to shift its focus from competing head-to-head with other marketplaces, to building or acquiring niche marketplaces and accelerating their growth.

Over the last 8 years, iPrice has been building such a niche marketplace. iPrice said that it has helped more than 100 million consumers across 7 countries in SouthEast Asia save money in 2022.

Its proprietary technology surfaces the best deals and discounts from more than 8 billion offers in a market featuring a vast array of sale events and hard to navigate discount mechanisms.

The deal also comes at an opportune time for iPrice as the company was forced to scale back on several aspects of its business and downsize its team substantially.

iPrice will continue to operate as an independent entity, maintaining its neutral position towards users, and working with a broad set of merchants and sellers.

Willix Halim

Willix Halim

Willix Halim, CEO of Bukalapak said,

“I’ve known David and the team for years and have always been excited about their work, then recently the opportunity emerged to work together more closely.

 

With Bukalapak’s extensive expertise in e-commerce and iPrice’s loyal userbase and proprietary technology, we are confident that we can unlock the platform’s full potential.”

Heinrich Wendel

Heinrich Wendel

Heinrich Wendel, Co-founder of iPrice said,

“We are excited to join forces with Bukalapak and benefit from the group’s synergies.

 

This partnership will allow us to expand our services to help even more users save money across new verticals, like gaming, and geographies, like Australia.”