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TikTok has completed its deal to take control of Indonesia's biggest e-commerce platform, which has allowed the Chinese social media giant to restart for its online shopping business in the country.
In October, TikTok Shop shut down in Indonesia to comply with new rules in South East Asia's biggest economy.
Under the deal, TikTok, which is owned by China's ByteDance, will buy 75.01% of Tokopedia and inject TikTok Shop's Indonesia business into the enlarged Tokopedia entity.
TikTok Shop. TikTok Shop is an e-commerce feature of the video hosting service TikTok. Launched in November 2022, [1] the feature enables users interested in starting a business and generating income to upload their curated products on TikTok for others to discover. Users have the option to purchase these products, which are available for a price.
TikTok (75%) Website. tokopedia .com. PT Tokopedia is an Indonesian e-commerce company. [2] Tokopedia is a subsidiary of a new holding company called GoTo, following a merger with Gojek on 17 May 2021. [3] [4] It is one of the most visited e-commerce platforms in Indonesia.
The shopping features within the TikTok app in Indonesia will be operated and maintained by the enlarged entity,” TikTok said in a statement Monday. TikTok will invest over $1.5 billion into ...
Corporate structure. TikTok Ltd was incorporated in the Cayman Islands and is based in both Singapore and Los Angeles. It owns four entities that are based respectively in the United States, Australia (which also runs the New Zealand business), United Kingdom (also owns subsidiaries in the European Union), and Singapore (owns operations in Southeast Asia and India).
Indonesia, Southeast Asia's largest economy, is home to some 125 million TikTok users, making it the platform's second largest market after the U.S. ByteDance bet big on the country, choosing it ...