China’s TikTok will invest $1.5 billion to become controlling shareholder of an e-commerce unit of Indonesia’s GoTo Gojek Tokopedia, as it seeks to restart its online shopping business suspended by regulators in Southeast Asia’s largest economy.
TikTok on Monday announced a $1.5 billion investment in GoTo in a deal that would allow the Chinese-owned short video app to restart its online shop in
TikTok—the Chinese social media phenom controlled by ByteDance, the world’s most valuable startup—will invest $1.5 billion in a joint venture that will take over GoTo’s e-commerce platform, giving it a foothold in one of Southeast Asia’s fastest growing digital economies, the companies said in a sta…
The Chinese video-sharing app will invest more than $1.5 billion in a deal with GoTo Group that will allow TikTok to resume retail operations in Indonesia, one of its most successful e-commerce markets.
TikTok announced plans Monday to restart its Indonesian e-commerce business, TikTok Shop, after signing a $1.5 billion deal to acquire a controlling stake in the country's largest internet-selling platform.
TIkTok is buying a majority stake in Indonesia's largest e-commerce platform Tokopedia, which will be integrated with the Chinese-owned video app's own commerce marketplace.
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TikTok announces $1.5 bn deal to restart Indonesia online shopping business | Since Then
