Bukalapak is revising its business strategy in light of changing market dynamics.

The company will focus on particular segments, including Mitra Bukalapak, Gaming, Investment, and selected Retail services. Consequently, layoffs are expected over the next two quarters.

Meanwhile, Bukalapak has published its unaudited financial results for the third quarter ending September 30, 2024.

The company’s revenue rose by 2% year-on-year to 3,400 billion rupiah (US$218 million) for the first nine months.

However, earnings before interest, taxes, depreciation, and amortization (EBITDA) were recorded at -68 billion rupiah (US$4.36 million).