TikTok to invest in Indonesia’s GoTo online retailer Tokopedia: report
Bloomberg. Citing people familiar with the matter, the report said that the discussions also involve the two companies jointly building a new e-commerce platform.
Shares of GoTo rose as much as 8.3% in Jakarta. In September, Indonesia had announced sweeping regulations that forced TikTok to split payments from shopping in the country.
The new rules bar social media companies in Indonesia from handling direct payments for online purchases. As affected by the new rules, shortly after that TikTok halted online shopping in Indonesia.
Deliberations for a deal are ongoing and talks could still fall apart, the report also said, adding that an agreement would also be subject to regulatory approval. Milestone Alert!
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