Jakarta — China’s TikTok will invest $1.5 billion to become controlling shareholder of an e-commerce unit of Indonesia’s GoTo Gojek Tokopedia, as it seeks to restart its online shopping business suspended by regulators in Southeast Asia’s largest economy. Indonesia banned online shopping on social media platforms in October to protect smaller merchants and users’ data, forcing TikTok to close its e-commerce service TikTok Shop. The market was among few where the short video app operator launched TikTok Shop earlier this year to leverage a large user base and to challenge fast-growing online sellers such as Shein and PDD Holdings’ (PDD) Temu, whose viral marketing on TikTok helped their rapid growth. Shares in GoTo, whose business includes ride-hailing,…
TikTok is investing $1.5 billion to get back into online shopping in Indonesia – CNN
