TikTok to Invest More Than $1.5 Billion in GoTo to Restart Indonesia E-Commerce Business
Updated Dec. 11, 2023 4:29 am ET
Bytedance’s TikTok will invest more than $1.5 billion in a deal with GoTo Group that will allow the Chinese video-sharing app to resume retail operations in Indonesia, one of its most successful e-commerce markets.
The companies said Monday that TikTok Shop Indonesia and GoTo’s Tokopedia e-commerce platform will be combined under the existing Tokopedia entity, with TikTok taking a 75% controlling stake.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Updated Dec. 11, 2023 4:29 am ET
Bytedance’s TikTok will invest more than $1.5 billion in a deal with GoTo Group that will allow the Chinese video-sharing app to resume retail operations in Indonesia, one of its most successful e-commerce markets.
The companies said Monday that TikTok Shop Indonesia and GoTo’s Tokopedia e-commerce platform will be combined under the existing Tokopedia entity, with TikTok taking a 75% controlling stake.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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