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The social media giant will combine its Indonesian TikTok Shop business with Tokopedia

ByteDance Ltd.’s TikTok agreed to invest $1.5 billion in a joint venture with Indonesia’s GoTo Group, part of a pact that lets the Chinese company restart its shopping app in its biggest online-retail market.

TikTok acquires majority share in Indonesia's e-commerce platform Tokopedia to operate in SEA's largest e-commerce market.

TikTok will invest more than US$1.5 billion, as a long-term commitment to support the operational of Tokopedia.