TikTok Mulls Investing in Indonesia’s GoTo to Revive Online Shop

Bloomberg2023-11-22

ByteDance Ltd.’s TikTok is in talks to invest into a unit of Indonesia’s GoTo Group, one of several options the Chinese company is weighing to try and restart its online shop in its biggest e-commerce...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2385658397?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-11-22 20:01","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2385658397","market":"us","top_or_hot":-1,"title":"TikTok Mulls Investing in Indonesia’s GoTo to Revive Online Shop","media":"Bloomberg","content":"<div>\n<p>ByteDance Ltd.’s TikTok is in talks to invest into a unit of Indonesia’s GoTo Group, one of several options the Chinese company is weighing to try and restart its online shop in its biggest e-commerce...</p>\n\n<a href=\"https://finance.yahoo.com/news/tiktok-mulls-investing-indonesia-goto-095819208.html\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TikTok Mulls Investing in Indonesia’s GoTo to Revive Online Shop</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTikTok Mulls Investing in Indonesia’s GoTo to Revive Online Shop\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-11-22 20:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/tiktok-mulls-investing-indonesia-goto-095819208.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ByteDance Ltd.’s TikTok is in talks to invest into a unit of Indonesia’s GoTo Group, one of several options the Chinese company is weighing to try and restart its online shop in its biggest e-commerce...</p>\n\n<a href=\"https://finance.yahoo.com/news/tiktok-mulls-investing-indonesia-goto-095819208.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999014484.SGD","symbol_name":"Nikko AM ASEAN Equity Fund A SGD","start_time":0,"source_url":"https://finance.yahoo.com/news/tiktok-mulls-investing-indonesia-goto-095819208.html","article_id":"2385658397","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2385658397","pubTimestamp":1700654514,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":" -- ByteDance Ltd.’s TikTok is in talks to invest into a unit of Indonesia’s GoTo Group, one of several options the Chinese company is weighing to try and restart its online shop in its biggest e-commerce market.Indonesia in September announced sweeping regulations that forced TikTok to split payments from shopping in the country — an unprecedented separation that put a dent in the social media company’s e-commerce thrust just as it was gaining traction against Sea Ltd. and GoTo. TikTok, the only platform immediately affected by the rule, halted online shopping in Indonesia shortly after to comply with the curbs.TikTok has been attempting to engage government officials and other social media companies to figure out a way to restart its e-commerce operations in the country. Last week, Indonesian minister Teten Masduki said TikTok has spoken with five companies including Tokopedia, PT Bukalapak.com and Blibli for possible partnerships.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","LU0210637038.USD":"HSBC GIF THAI EQUITY \"AD\" INC","SG9999002414.USD":"LIONGLOBAL SINGAPORE TRUST (USD) ACC","BK4554":"元宇宙及AR概念","LU0532188223.SGD":"JPMorgan Funds - ASEAN Equity A (acc) SGD","BK4585":"ETF&股票定投概念","BK4566":"资本集团","SGXZ58947870.SGD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (SGDHDG) INC","SG9999002406.SGD":"利安新加坡信托基金","GRAB":"Grab Holdings","BK4535":"淡马锡持仓","BK4581":"高盛持仓","SG9999002620.SGD":"LionGlobal South East Asia SGD","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","BK4588":"碎股","BK4503":"景林资产持仓","SG9999013460.SGD":"LionGlobal Singapore Dividend Equity Fund SGD","BK4551":"寇图资本持仓","SG9999013478.USD":"利安新加坡股息基金","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","BK4085":"互动家庭娱乐","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","SG9999002604.SGD":"LionGlobal Singapore/Malaysia SGD","SG9999002679.SGD":"LionGlobal Singapore Balanced SGD","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","SG9999001135.SGD":"United ASEAN Fund SGD","BK4548":"巴美列捷福持仓","SE":"Sea Ltd","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","LU0048573645.USD":"富达东盟基金","LU0251143029.SGD":"Fidelity ASEAN A-SGD","SG9999014492.USD":"NIKKO AM ASEAN EQUITY \"A\" (USD) ACC"},"translate_title":"抖音考虑投资印尼后藤重振网店","themeId":"8dd8b3510ee24ff1ba7734bf3b11b502","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GRAB":1.1,"SE":0.9},"content_text":"ByteDance Ltd.’s TikTok is in talks to invest into a unit of Indonesia’s GoTo Group, one of several options the Chinese company is weighing to try and restart its online shop in its biggest e-commerce market.The companies are working on a potential investment into GoTo’s online-retail unit Tokopedia, which could be finalized in the coming weeks, people with knowledge of the matter said. Instead of a direct investment, the deal could take the form of a joint venture between the two firms, said one of the people, who asked not to be identified as the information is private.The discussions also involve the two companies jointly building a new e-commerce platform, the people said. That arrangement is designed to address regulatory hurdles and let TikTok revive its online-shopping service in Southeast Asia’s largest retail arena.Indonesia in September announced sweeping regulations that forced TikTok to split payments from shopping in the country — an unprecedented separation that put a dent in the social media company’s e-commerce thrust just as it was gaining traction against Sea Ltd. and GoTo. TikTok, the only platform immediately affected by the rule, halted online shopping in Indonesia shortly after to comply with the curbs.Deliberations for a deal are ongoing and talks could still fall apart, the people said. A pact would also be subject to regulatory approval, they said. A direct investment into Tokopedia, Indonesia’s largest local e-commerce player, might help to further smoothen relations with the government, one of the people said.TikTok didn’t respond to a request for comment, while a GoTo representative declined to comment.Owned by Beijing-based ByteDance, TikTok has been trying to chart a new path for its fastest-growing feature, TikTok Shop, in a country of 278 million that was supposed to be a template for a global expansion from the US to Europe.For GoTo, Indonesia’s largest internet company, a deal with TikTok could be risky as it would help a major online-retail rival to keep operating in the country. But it would also give GoTo a strong global social-media partner in an arrangement that could boost shopping and payments volumes for both companies.TikTok has been attempting to engage government officials and other social media companies to figure out a way to restart its e-commerce operations in the country. Last week, Indonesian minister Teten Masduki said TikTok has spoken with five companies including Tokopedia, PT Bukalapak.com and Blibli for possible partnerships.Indonesia is the first and largest market for TikTok Shop, and online shopping has become the social media app’s fastest-growing feature with a burgeoning fan base in the country. TikTok started the shopping feature in Indonesia in 2021 and its instant success has encouraged it to expand into online retailing in other markets, including the US.Indonesia is among the first countries in Southeast Asia to push back against TikTok. Navigating the conflict will be pivotal for the company as governments across the world assess how Southeast Asia’s largest nation moves to curb the social media giant’s burgeoning e-commerce presence, just months after the firm said it will invest billions of dollars into the region.Following the Indonesia restrictions, nearby Malaysia said it is studying the possibility of regulating TikTok and its e-commerce operations. The social media giant is already facing possible bans and scrutiny in the likes of the US, Europe and India on national security concerns.Grab gained nearly 2% while Sea rose slightly in premarket trading.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2385658397"}