After weeks of speculations following TikTok Shop’s shutdown in Indonesia, the ByteDance-owned company announced it will take a controlling stake in GoTo-owned Tokopedia as part of a strategic deal between two of the country’s most popular platforms. TikTok has committed to invest over $1.5 billion in the enlarged entity, where it will hold a 75.01% stake, while GoTo will retain the remaining 24.99%.
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