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Indonesia banned goods transactions on social media platforms such as TikTok in a bid to protect small businesses from e-commerce competition, accusing them of predatory pricing.
TikTok now seems to have found a way to revive its e-commerce dreams in Indonesia by spending billions to start a joint venture with Indonesian tech giant GoTo.
January 31, 2024 at 3:58 AM. JAKARTA (Reuters) - TikTok has completed its deal to take control of Indonesia's biggest e-commerce platform, which has allowed the Chinese social media giant to...
On December 11, 2023, TikTok, operating under ByteDance, officially announced the acquisition of 75% of Tokopedia's shares. This investment is valued at 1.5 billion US dollars, or around 23.4 trillion Indonesian Rupiah.
A new subsidiary, TikTok U.S. Data Security Inc. (USDS), was created to manage user data, software code, back-end systems, and content moderation. It would report to the Committee on Foreign Investment in the United States (CFIUS), not ByteDance or TikTok, even for hiring practices.
Indonesia. On 3 July 2018, TikTok was temporarily banned in Indonesia after the government accused it of promulgating "pornography, inappropriate content, and blasphemy."
Indonesian tech firm GoTo and Chinese-owned partner TikTok will be wholly compliant in a month and a half with the Southeast Asian nation's regulation that bans in-app transactions on social...
December 11, 2023 at 2:51 AM. By Ananda Teresia. JAKARTA (Reuters) -China's TikTok has agreed to spend $840 million to buy most of Indonesian tech conglomerate GoTo's e-commerce unit - a move...
ByteDance Ltd. is a Chinese internet technology company headquartered in Haidian, Beijing and incorporated in the Cayman Islands. [7] Founded by Zhang Yiming, Liang Rubo and a team of others in 2012, ByteDance developed the video-sharing apps TikTok and Douyin.
Indonesia has dealt a critical blow to TikTok's bold plan to turn millions of users into shoppers. On Wednesday, TikTok, which is owned by the Chinese technology firm ByteDance, suspended...