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TikTok invests $1.5B in Indonesia
Gabriel Menor
December 17, 2023
💵 Deal of the year - TikTok will invest $1.5B to become the controlling shareholder in Tokopedia, the parent company for Indonesia’s biggest ecommerce platform. Through this, Tokopedia will integrate, maintain, and absorb TikTok Shop along with its features into its platform.
💡 This means that Indonesia would allow TikTok Shop to operate in Southeast Asia’s biggest economy where ecommerce revenue is expected to hit $70 billion.
🛑 The original shutdown - Indonesia originally originally shut down their Indonesian shop because of laws that protect local merchants. TikTok shop had 6 million sellers and 7 million affiliates at this time
📊 In the stock market - Under the new deal, TikTok will own 75% of the company. Shares tumbled 8.3% as investors took their profits from the monster deal.
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