TikTok and GoTo to form a joint venture in a $1.5bn deal.

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.