Report: Bukalapak acquires 500 Startups-backed Itemku

Details:

• The acquisition will help Itemku reach a wider audience in Indonesia – including rural areas – through Bukalapak’s network. Financial details of the deal were not disclosed.
• The gaming marketplace will operate as a separate entity and develop projects along with Bukalapak.

Context:

• Launched in 2015, Itemku is a price comparison and marketplace portal for game credits and items in Indonesia. Two years after its inception, it raised US$1.2 million in a series A round from 500 Startups and Korean VC firm K-Run Ventures.
• Last week, Bukalapak announced the partnership with Itemku aiming to increase access to video games in Indonesia by developing new products together.