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Hello reader,
I recently read my son the story of The Bamboo and the Oak.
The story goes: In a forest, an oak tree stood tall and proud with its thick trunk, while nearby a slender bamboo swayed gently in the breeze.
The oak often mocked the bamboo, calling it thin and weak. But the bamboo replied that true strength lies not in resisting but in adapting.
Perhaps, Indonesian ecommerce giant Bukalapak (BUKA, IDX) is choosing the same path as the bamboo. The company recently announced plans to shut down its marketplace for physical goods and pivot entirely to selling virtual products.
In this week’s Big Story, my colleague Jofie explores why Bukalapak made this move and what lies ahead for the company.
Only time will tell if Bukalapak made the right call to adapt like the bamboo or whether it should have stood firm like an oak tree.
— Samreen
THE BIG STORY
Image credit: Timmy Loen
Bukalapak’s shift to virtual goods: turning point or misstep?
Halting sales of physical products will “not have a material impact” on its revenue, the Indonesian ecommerce firm says.
3 Trends to keep an eye on
Hot stocks, earnings reports, restructuring, pressure from activist investors, and more.
Photo credit: Swiggy
2 Eye-popping facts
The one you didn’t see coming
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