TikTok Finds Its Way Back Into Indonesia’s Booming E-Commerce Market

Yasuyoshi CHIBA / AFP

Chinese-owned TikTok announced on Monday that it is taking over 75% stake in Tokopedia, the Indonesian e-commerce unit of GoTo’s super-app ecosystem. The company said that it will spend a total of $1.5 billion and that the transaction will be completed by the first quarter of next year.

“As part of the agreement, Tokopedia and TikTok Shop Indonesia’s businesses will be combined under the existing Tokopedia entity in which TikTok will take a controlling stake,” TikTok said in the statement. “The shopping features within the TikTok app in Indonesia will be operated and maintained by the enlarged entity.”

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Antonia Timmerman

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3
China, U.S. Ink Rare Earth Deal; More Trade Pacts Coming
4
Rubio to Welcome Asian ‘Quad’ Back to Washington
5
Six Million Donkeys Slaughtered for Chinese Medicine: Charity
6
Chinese-Moroccan Joint Venture Inaugurates EV Battery Parts Plant

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP