# Deals of 2023 : TikTok $1.5 billion deal to relaunch online shopping in Indonesia

- Link: https://www.thailand-business-news.com/business/117404-tiktok-has-struck-a-1-5-billion-deal-to-relaunch-online-shopping-in-indonesia
- Published: 2023-12-24T13:45:30+07:00
- Author: News Desk

**TikTok to invest $1.5 billion in GoTo group, merging TikTok Shop into Tokopedia,
restarting online shopping business in Indonesia.**

---

## TikTok Invests $1.5 Billion in GoTo Group

Chinese-owned short video app TikTok announced a $1.5 billion investment in GoTo
group, enabling it to restart its online shop in Indonesia. The investment will 
allow TikTok to merge its TikTok Shop into GoTo’s Tokopedia, giving TikTok a controlling
stake in the entity. According to a statement by the Indonesian firm, TikTok has
committed to investing over $1.5 billion in the newly enlarged entity over time 
without additional dilution to GoTo.

ADVERTISEMENT

## Transformation of Indonesia’s E-commerce Sector

The strategic partnership between TikTok, Tokopedia, and GoTo aims to transform 
Indonesia’s e-commerce sector, creating millions of new job opportunities over the
next five years. The deal is expected to commence with a pilot period, and GoTo 
anticipates the closure of the deal by 2024.

## Regulatory Challenges and Market Impact

The Indonesian ban on TikTok’s online shop came after the country banned sales on
social media to protect small businesses, leading to regulatory challenges for platforms
like TikTok. Despite this setback, Indonesia remains TikTok’s second-largest global
market, and the investment in GoTo group signals TikTok’s commitment to the Indonesian
market.

### Related**Posts**

###  󠀁[Thailand’s Floods Expose Severe Vulnerabilities in Its Automotive Supply Chain](https://www.thailand-business-news.com/business/332669-floods-in-thailand-highlight-the-vulnerability-of-the-countrys-automotive-supply-chain)󠁿

###  󠀁[Thailand Business News — Morning Briefing](https://www.thailand-business-news.com/business/332413-thailand-business-news-morning-briefing-2)󠁿

###  󠀁[Thailand is making AI and semiconductors the focus of its next five-year development plan](https://www.thailand-business-news.com/business/332032-thailand-is-making-ai-and-semiconductors-the-focus-of-its-next-five-year-development-plan)󠁿

###  󠀁[Unleashing Urban Productivity: How Thai Cities Can Drive High-Income Growth](https://www.thailand-business-news.com/business/330874-unleashing-urban-productivity-how-thai-cities-can-drive-high-income-growth)󠁿