Lokesh Choudhary · · 1 min readGoTo confirms discussions with TikTok for ecommerce partnership
Photo credit: GoTo Group
Indonesian super app GoTo Group has confirmed that it is in discussions with ByteDance-owned TikTok for a potential ecommerce partnership in the country.
In a disclosure statement on the Indonesian Stock Exchange, GoTo stated that “no final decision or agreement has been reached by the parties and discussion is still continuing.”
The company reassured that it will provide updates to the public within two business days of any agreement being finalized, adhering to local regulations.
TikTok Shop is reportedly looking to revitalize its ecommerce operations in Indonesia by investing in GoTo’s Tokopedia. TikTok’s ecommerce arm was shut down two months ago in Indonesia after the government banned direct ecommerce transactions on social media apps.
As Tech in Asia previously analyzed, citing figures from venture builder firm Momentum Works, the combined forces of Tokopedia and TikTok Shop would capture about 40% of Indonesia’s ecommerce market – surpassing Shopee’s 35% .
Indonesia is TikTok Shop’s largest market in Southeast Asia, generating about US$20 million gross merchandise value on a daily basis.
See also: Is the potential TikTok Shop-Tokopedia deal just a strategic stopgap?
Editing by Thu Huong Le and Dhania Putri Sarahtika
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