Exploring Collaboration: GoTo’s Talks with TikTok
TikTok E-Commerce had reached an agreement to invest in a unit of GoTo. The Indonesian e-commerce market, forecasted to surge from $62 billion in 2023 to approximately $160 billion by 2030, according to a joint report by Google, Temasek Holdings, and Bain & Co, underscores the strategic significance of potential collaborations in this burgeoning sector.
In response to Indonesia’s October ban on online shopping via social media platforms, aimed at safeguarding smaller merchants and user data, TikTok had to shutter its e-commerce service, TikTok Shop. With a substantial user base of 125 million in the country, TikTok sought potential partnerships, with discussions involving five companies, including GoTo, as revealed by Indonesia’s small and medium enterprises minister, Teten Masduki, in November.
Strategic Investment Unveiled: TikTok E-Commerce Potential Deal with GoTo
Recent reports from Bloomberg suggested that TikTok had reached an agreement to invest in a unit of GoTo. The Indonesian e-commerce market, forecasted to surge from $62 billion in 2023 to approximately $160 billion by 2030, according to a joint report by Google, Temasek Holdings, and Bain & Co, underscores the strategic significance of potential collaborations in this burgeoning sector.
