Blog > Marketplace News > By Controlling Tokopedia, TikTok Shop Will Return To Indonesia During The "12.12"
By Controlling Tokopedia, TikTok Shop Will Return To Indonesia During The "12.12"
Jayson 11 Dec 2023 06:59
On December 11, TikTok officially announced that it had reached an e-commerce strategic cooperation with Indonesian GoTo Group. TikTok's Indonesian e-commerce business will be merged with Tokopedia, an e-commerce platform owned by GoTo Group. The merged Tokopedia will be controlled by TikTok.
The two parties will jointly promote the development of Indonesia's digital economy and support the development of small and medium-sized enterprises. The previously banned TikTok e-commerce will also be re-launched on December 12. TikTok also promised to invest US$1.5 billion in the next few years to provide financial support for future business development.
Public reports show that GoTo is Indonesia's largest Internet technology company, and it owns Indonesia's local e-commerce platform Tokopedia and mobile service platform Gojek. Tokopedia is Indonesia's largest local e-commerce company, with a market share of 35%. It has attracted much attention since its inception in 2009. In 2014, it became the first technology company in Southeast Asia to raise more than US$100 million; its total financing amount has exceeded US$2.3 billion.
Since the end of November after the ban was promulgated, many Indonesian officials have changed their attitudes and expressed support for TikTok to cooperate with local companies. Therefore, the return of TikTok e-commerce has received support from the local government.
"The Jakarta Globe" reported that Indonesian Trade Minister Zulkifli Hasan has recently "given the green light" to cooperation between the two parties. “Our arrangement is to allow social e-commerce to support Indonesia’s economic growth.” He also said that TikTok e-commerce can become a supporter of small, medium and micro enterprises.
TikTok said in a statement that it will work with GoTo Group to provide a series of support in marketing, branding and internationalization to help local small and medium-sized businesses develop. On the day of resumption, TikTok and Tokopedia will also jointly launch the "Buy Local Products" (Beli Lokal) event to help the development of local Indonesian companies.
The two parties will jointly promote the development of Indonesia's digital economy and support the development of small and medium-sized enterprises. The previously banned TikTok e-commerce will also be re-launched on December 12. TikTok also promised to invest US$1.5 billion in the next few years to provide financial support for future business development.
Public reports show that GoTo is Indonesia's largest Internet technology company, and it owns Indonesia's local e-commerce platform Tokopedia and mobile service platform Gojek. Tokopedia is Indonesia's largest local e-commerce company, with a market share of 35%. It has attracted much attention since its inception in 2009. In 2014, it became the first technology company in Southeast Asia to raise more than US$100 million; its total financing amount has exceeded US$2.3 billion.
Since the end of November after the ban was promulgated, many Indonesian officials have changed their attitudes and expressed support for TikTok to cooperate with local companies. Therefore, the return of TikTok e-commerce has received support from the local government.
"The Jakarta Globe" reported that Indonesian Trade Minister Zulkifli Hasan has recently "given the green light" to cooperation between the two parties. “Our arrangement is to allow social e-commerce to support Indonesia’s economic growth.” He also said that TikTok e-commerce can become a supporter of small, medium and micro enterprises.
TikTok said in a statement that it will work with GoTo Group to provide a series of support in marketing, branding and internationalization to help local small and medium-sized businesses develop. On the day of resumption, TikTok and Tokopedia will also jointly launch the "Buy Local Products" (Beli Lokal) event to help the development of local Indonesian companies.
