Achmad Zaky began learning computers in 1997. As a student at ITB he wrote quick-count election software for a television station for Rp 1.5 million, and he also ran a noodle business that failed. After graduating he set up a consulting company called Suitmedia.
Bukalapak, which means open a market stall, began in 2010 with Nugroho Herucahyono as CTO, and Fajrin Rasyid joined for finance. Early sellers were fixie bike parts dealers. In June 2011 Takeshi Ebihara invested Rp 2 billion.
By 2013 the site saw about Rp 500 million in daily transactions and more than 80,000 sellers. A Series A led by Emtek followed in February 2014, with 500 Startups and GREE Ventures among the investors. The Mirae Asset and Naver fund invested in January 2019.
Zaky resigned as CEO in January 2020. Nugroho Herucahyono stepped down as CTO that year, and Fajrin Rasyid left for Telkom Indonesia in June. Microsoft invested $100 million in November 2020. The 2021 IPO on the Indonesia Stock Exchange raised up to $1.5 billion, the largest in the country at that time, and 2021 revenue was Rp 1.9 trillion.