Tokopedia Gets New President as Tiktok Officially Becomes Controlling Shareholder
PT GoTo Gojek Tokopedia (IDX: GOTO) announced the new CEO of Tokopedia following the completed transaction of TikTok's investment in the company.
Stay updated with breaking news from Patrick Walujo. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
PT GoTo Gojek Tokopedia (IDX: GOTO) announced the new CEO of Tokopedia following the completed transaction of TikTok's investment in the company.
TikTok has completed its deal to take control of Indonesia's biggest e-commerce platform, which has allowed the Chinese social media giant to restart for its online shopping business in the country. Indonesian tech conglomerate GoTo said on Wednesday that TikTok, owned by China's ByteDance, had completed a deal agreed in December to buy 75.01% of Tokopedia for $840 million from the conglomerate. TikTok had been forced to close its relatively new e-commerce service, TikTok Shop, in Indonesia afte
This is done along with GoTo's profitability direction and cash flow improvement.
GoTo Group CEO Patrick Walujo also hinted at a share buyback.
JAKARTA: TikTok has completed its deal to take control of Indonesia’s biggest e-commerce platform, which has allowed...