Telkom names Bukalapak president as director of digital business

Indonesian state-owned telco operator Telkom has named Fajrin Rasyid, co-founder and president of local e-commerce giant Bukalapak, as the new director of its digital business arm.

The appointment was announced in a shareholders meeting on Friday, June 19, in Jakarta, according to various media reports.

It was part of the telco’s strategy to become “more profitable and reduce its dependence on mobile service,” according to CNBC.

Following the appointment, Rasyid has stepped down from his position as president in Bukalapak.

Also Read: Afternoon News Roundup: Bukalapak denies reports of user data breach

Prior to being promoted to President position, Rasyid was the CFO of the South Jakarta-based startup for seven years.

Graduated from Bandung Institute of Technology (ITB) with a 4.0 GPA, Rasyid started out his career as a consultant at Boston Consulting Group (BCG).

Throughout his career, Rasyid has won several awards including SWA magazine’s CFO of The Year and Endeavour Entrepreneur 2016.

With this appointment, all three of Bukalapak co-founders —Achmad Zaky, Nugroho Herucahyono, and Rasyid– have exited the company.

Bukalapak itself has secured its unicorn status in 2018. In an interview with e27, Rasyid likened the unicorn status to “stopping at a gas station.”

“Being a unicorn is a means, not an end. It is just like gas stations; we need to stop at a gas station to add fuel [to our vehicle] so that we can reach our destination … We don’t build companies in order to look for investments. We are here to serve the customers,” he said.

Also Read: Bukalapak co-founders launch Init 6 to back early-stage startups in Indonesia

Bukalapak is yet to name the replacement of Rasyid in the company by the time of this article’s publishing.

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Image Credit: Bukalapak

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