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Indonesian tech conglomerate GoTo said on Wednesday that TikTok, owned by China's ByteDance, had completed a deal agreed in December to buy 75.01% of Tokopedia for $840 million from the conglomerate.
Under the deal, TikTok, which is owned by China's ByteDance, will buy 75.01% of Tokopedia and inject TikTok Shop's Indonesia business into the enlarged Tokopedia entity.
Indonesia, Southeast Asia's largest economy, is home to some 125 million TikTok users, making it the platform's second largest market after the U.S. ByteDance bet big on the country, choosing it ...
TikTok Shop is an e-commerce feature of the video hosting service TikTok. Officially launched in September 2023, [1] the feature enables users interested in starting a business and generating income to upload their curated products on TikTok for others to discover and purchase. [2] Daily sales averaged approximately US$ 7 million in October 2023.
In October, TikTok Shop shut down in Indonesia to comply with new rules in South East Asia's biggest economy.
GoTo (25%) TikTok (75%) Website. tokopedia .com. PT Tokopedia is an Indonesian e-commerce company. [ 2] Tokopedia is a subsidiary of a new holding company called GoTo, following a merger with Gojek on 17 May 2021. [ 3][ 4] It is one of the most visited e-commerce platforms in Indonesia. [ 5] Tokopedia is one of Indonesia's unicorn companies ...
Website. gotocompany .com. PT GoTo Gojek Tokopedia Tbk, [ 6] trading as GoTo, is an Indonesian technology company. The company was formed in 2021 in a merger — the largest in the country at that time between Indonesia's two most valuable startups, ride-hailing giant Gojek and e-commerce firm Tokopedia. [ 5][ 7]
The shopping features within the TikTok app in Indonesia will be operated and maintained by the enlarged entity,” TikTok said in a statement Monday. TikTok will invest over $1.5 billion into ...
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