TikTok Revives E-Commerce in Indonesia With $1 5 Billion Investment shanghaisun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shanghaisun.com Daily Mail and Mail on Sunday newspapers.
ByteDance Ltd.’s TikTok agreed to invest $1.5 billion in a joint venture with Indonesia’s GoTo Group, part of a pact that lets the Chinese company restart its shopping app in its biggest online-retail market.
In September, Indonesia banned ecommerce transactions on social media, a major blow for TikTok, which had pledged to invest billions of dollars in Southeast Asia, including Indonesia, the region s biggest economy.