TikTok, GoTo to merge Indonesian e-commerce businesses; TikTok commits at least US$1.5 billion
BYTEDANCE’S TikTok and tech giant GoTo are combining their e-commerce businesses in Indonesia – Tokopedia and TikTok Shop Indonesia – under an existing Tokopedia entity, putting pressure on other e-commerce platforms such as Singapore’s Sea.
Tokopedia is the online retail unit of GoTo, the merged entity between ride-hailing startup GoJek and e-commerce platform Tokopedia.
Shopping features within the TikTok app in Indonesia will be operated and maintained by the enlarged Tokopedia entity, said GoTo and TikTok on Monday (Dec 11).
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
Big tech players splash the cash to court S-E Asia’s young and fast digitalising population
Third Vietnam politburo member resigns in two months
Domestic coffee prices rise in Vietnam, premiums up in Indonesia
Singapore’s STT GDC to co-develop US$420 million data centre in Vietnam
Indonesia at risk of higher fiscal deficits post-election: Fitch
Malaysia Airports gets take-private offer from consortium including Khazanah, EPF