All articles tagged with #goto
Indonesia’s stock exchange has slashed the minimum share price from Rp50 to Rp1 to revive liquidity in the world’s worst-performing market. The move aims to prevent an MSCI downgrade and restore price discovery, though analysts warn of heightened volatility and potential selling pressure for distressed firms.
Shopee, the e-commerce arm of Southeast Asian tech giant Sea Limited, may face increased competition from the partnership between GoTo's Tokopedia and TikTok in Indonesia. The deal will combine Tokopedia and TikTok Shop Indonesia into an enlarged Tokopedia entity, with TikTok taking a controlling stake of 75.01% and investing $1.5 billion. Analysts believe this partnership will put pressure on Shopee, which is already struggling to maintain profitability. The move comes after Indonesia banned e-commerce on social media platforms, forcing TikTok to halt its e-commerce service. With TikTok's strong presence and operational control, Shopee will need a clear strategy to compete.
TikTok plans to invest $1.5 billion in a joint venture with GoTo's e-commerce unit, Tokopedia, to expand its presence in Indonesia's booming e-commerce market. TikTok will have a controlling stake of 75.01% in the new entity, which will combine Tokopedia and TikTok Shop Indonesia. The investment will be made over time, with an initial payment of $840 million. This move comes after TikTok faced regulatory hurdles in Indonesia and had to suspend its e-commerce service. The deal aims to support micro, small, and medium enterprises (MSMEs) and is expected to close in Q1 2024.
TikTok plans to invest $1.5 billion to become the controlling shareholder of an e-commerce unit of GoTo, Indonesia's Gojek Tokopedia, in an effort to restart its online shopping business in the country. The move comes after Indonesia banned online shopping on social media platforms, forcing TikTok to close its e-commerce service. Under the deal, TikTok will acquire a 75.01% stake in Tokopedia for $840 million and merge its Indonesia business into the enlarged entity. The transaction is expected to be concluded by Q1 2024, and TikTok has committed to investing over $1.5 billion in the enlarged entity over time.