TikTok and GoTo, the largest digital ecosystem in Indonesia, announced the formation of a strategic partnership in Indonesia. With this deal, GoTo’s eCommerce company Tokopedia and TikTok Shop Indonesia have combined under the PT Tokopedia entity that is now jointly owned by GoTo and TikTok, the companies said in a Wednesday...
TikTok is reportedly investing $1.5 billion in Tokopedia to salvage its Indonesian eCommerce efforts. The company is set to take a controlling 75.01% stake in Tokopedia, the eCommerce arm of Indonesia’s GoTo Group, according to a letter Monday (Dec. 11) to GoTo investors seen by the Financial Times (FT). Under the deal,...
TikTok is reportedly turning to GoTo to revive its crucial Indonesian eCommerce business. The two firms are working on a plan — which could be finalized in the next few weeks — that would see TikTok invest in Indonesia-based GoTo’s online shopping arm Tokopedia, Bloomberg News reported Wednesday (Nov. 22),...
TikTok’s plan to invest heavily in Indonesian eCommerce is apparently hitting a roadblock. As Bloomberg News reported Thursday (Sept. 28), the company is now subject to new rules in Indonesia that block social media platforms from handling direct payments for online purchases, a distinction that so far applies...
April 04, 2023
Real-time payment systems have transformed how individuals and businesses transact and manage their money around the globe by allowing users to transfer funds instantly without needing physical cash or checks. Users can transfer funds from anywhere, anytime, using their mobile devices or online banking. This transformation has made payment systems more accessible and streamlined, […]
March 18, 2021
Building a digital payments infrastructure from the ground up in Southeast Asia is every bit as challenging as it sounds. Case in point: When FinTech company Xendit worked with a...
January 31, 2024
TikTok and GoTo, the largest digital ecosystem in Indonesia, announced the formation of a strategic partnership in Indonesia. With this deal, GoTo’s eCommerce company Tokopedia and TikTok Shop Indonesia have combined under the PT Tokopedia entity that is now jointly owned by GoTo and TikTok, the companies said in a Wednesday (Jan. 31) press release. TikTok holds a controlling stake. In addition, […]
December 11, 2023
TikTok is reportedly investing $1.5 billion in Tokopedia to salvage its Indonesian eCommerce efforts. The company is set to take a controlling 75.01% stake in Tokopedia, the eCommerce arm of Indonesia’s GoTo Group, according to a letter...
November 22, 2023
TikTok is reportedly turning to GoTo to revive its crucial Indonesian eCommerce business. The two firms are working on a plan — which could be finalized in the next few weeks — that would see...
September 28, 2023
TikTok’s plan to invest heavily in Indonesian eCommerce is apparently hitting a roadblock. As Bloomberg News reported Thursday (Sept. 28), the company is now subject to new rules in Indonesia that block social...
