Announced
Financials
Sources
Tags
Indonesia
e-shopping
Cross Border
Majority
Private
Friendly
E-commerce
Acquisition
Joint Venture
Pending
Synopsis
TikTok, a short-form video hosting service company, and GoTo, a flexible-work provider of software as a service and cloud-based remote work tools for collaboration and IT management, agreed to form a joint venture, in a $1.5bn deal. As part of the agreement, Tokopedia and TikTok shop Indonesia’s businesses will be combined under the existing PT Tokopedia entity in which TikTok will take a controlling stake. The shopping features within the TikTok app in Indonesia will be operated and maintained by the enlarged entity.
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