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Indonesia's Bukalapak expects wider loss in 2022

Retail unicorn sees revenue rising 61%, remains positive about digitalization

Bukalapak is optimistic about this year's revenue but sees its loss getting bigger.   © Reuters

JAKARTA -- Indonesian tech giant Bukalapak is forecasting a pretax loss of as much as 1.5 trillion rupiah ($101 million) for 2022, a widening from the previous year, even as it expects revenue to jump 61%.

Bukalapak revealed its own forecast as part of presentation materials submitted to the Indonesia Stock Exchange on Tuesday. It offered no elaboration, which it said would come on Wednesday.

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