TikTok Mulls Investing in Indonesia's GoTo to Revive Online Shop [BNN Bloomberg (Canada)]
Sea Limited American Depositary Shares, each representing one Class A Ordinary Share (SE)
Last sea limited american depositary shares, each representing one class a ordinary share earnings: 3/3 06:30 am
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Source: BNN Bloomberg
The companies are working on a potential investment into GoTo's online-retail unit Tokopedia, which could be finalized in the coming weeks, people with knowledge of the matter said. Instead of a direct investment, the deal could take the form of a joint venture between the two firms, said one of the people, who asked not to be identified as the information is private. The discussions also involve the two companies jointly building a new e-commerce platform, the people said. That arrangement is designed to address regulatory hurdles and let TikTok revive its online-shopping service in Southeast Asia's largest retail arena. Indonesia in September announced sweeping regulations that forced TikTok to split payments from shopping in the country — an unprecedented separation that put a dent in the social media company's e-commerce thrust just as it was gaining traction against Sea Ltd. and GoTo. TikTok, the only platform immediately affected by the rule, halted online shopping in Indon
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