The deal comes after Indonesia in October banned online shopping on social media platforms to protect smaller merchants and users data, forcing TikTok to close its e-commerce service TikTok Shop.
JAKARTA (Reuters) -TikTok will take a controlling stake in an e-commerce unit of Indonesia's biggest tech firm, PT GoTo Gojek Tokopedia, a partnership that will see the video app invest $1.5 billion over long term, the companies said on Monday. The dea.
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 statement on Monday.