Indonesian tech giant GoTo revealed today that TikTok has actually formally finished the deal revealed in December in 2015, investing $840 million to get 75.01% of the shares in GoTo’s e-commerce subsidiary, Tokopedia.
GoTo CEO Patrick Walujo stated, “Today marks the conclusion of our collaboration with TikTok, which will benefit Indonesia and regional little and medium-sized business.”
The 2 celebrations revealed a tactical collaboration in December in 2015. TikTok’s e-commerce service, which had actually as soon as bid goodbye to the Indonesian market due to regional policies, was likewise relaunched on “Indonesia Online Shopping Day” on December 12.
Indonesia’s Deputy Minister of Trade, Jerry Sambuaga, had actually specified that as long as TikTok adheres to appropriate Indonesian laws and treatments, it can easily team up with any e-commerce platform.
In late September 2023, Indonesian Minister of Trade Zulkifli Hasan stated, “Social media and e-commerce should be separated so that algorithms are not entirely managed and individual information can be avoided from being utilized commercially.”
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