TikTo k’s logo design is shown on a smart phone screen in Ankara, Turkiye on December 5, 2023.
Didem Mente|Anadolu|Getty Images
TikTo k will take a managing stake in an e-commerce system of Indonesia’s greatest tech company PT GoTo Gojek Tokopedia, a collaboration that will see the brief video app invest $ 1.5 billion over the long term, the 2 business stated on Monday.
The offer follows Indonesia in October prohibited online shopping on social networks platforms to safeguard smaller sized merchants and users’ information, requiring TikTo k to close its e-commerce service TikTo k Shop
Under the offer, TikTo k will purchase 75.01% of GoTo’s PT Tokopedia, Indonesia’s greatest e-commerce platform, for $840 million and inject TikTo k Shop’s Indonesia organization into the bigger Tokopedia entity.
“The strategic partnership will commence with a pilot period carried out in close consultation with and supervision by the relevant regulators,” the 2 companies stated in a joint declaration.
Many of Indonesia’s over 270 million population are active social networks users, and TikTo k has 125 million users in the nation.
