TikTok-GoTo partnership takes away Indonesian group’s burden, pressures Sea: analysts

THE partnership between TikTok and GoTo will hurt Sea’s margin, but relieve the Indonesian tech giant’s cash-burning burden, said analysts on Monday (Dec 11).

DBS Group Research has slashed the target price for Shopee owner Sea to US$42 from US$62 with a downgrade to “hold” from “buy”.

This was following the deal announcement, as the research house expects Shopee to suffer greater losses amid heightened competition in e-commerce space.