TikTok and GoTo, which owns Tokopedia, announced a partnership in Indonesia to serve micro, small, and medium-sized businesses. As part of the deal, Tokopedia and TikTok Shop Indonesia's businesses will be combined, with TikTok taking a controlling 75.01% stake. TikTok will also invest $1.5 billion in the company over time. Indonesia banned e-commerce on social media, forcing TikTok to halt its TikTok Shop service. This deal allows TikTok to legally re-enter e-commerce through Tokopedia. The partnership strengthens TikTok's e-commerce capabilities in Indonesia, Southeast Asia's largest market, posing new challenges for rivals like Shopee and Lazada.
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00:00 It's Benzinga and here's what's on the block.
00:02 TikTok and Go2, which owns Tokopedia, announced a partnership in Indonesia to serve micro,
00:08 small and medium-sized businesses.
00:11 As part of the deal, Tokopedia and TikTok Shop, Indonesia's businesses, will be combined,
00:16 with TikTok taking a controlling 75.01% stake.
00:20 TikTok will also invest $1.5 billion in the company over time.
00:25 Indonesia banned e-commerce on social media, forcing TikTok to halt its TikTok Shop service.
00:31 This deal allows TikTok to legally re-enter e-commerce through Tokopedia.
00:36 The partnership strengthens TikTok's e-commerce capabilities in Indonesia, Southeast Asia's
00:40 largest market.
00:41 For all things money, visit Benzinga.com.
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