, Indonesia
Photo from GoTo.

GoTo, TikTok complete Indonesia merger

TikTok will hold the controlling stake in PT Tokopedia.

Indonesia’s PT GoTo Gojek Tokopedia Tbk and entertainment platform TikTok finalised their merger, aiming to provide a seamless shopping experience within both e-commerce platforms.

In a statement, GoTo said the Tokopedia and TikTok Shop are combined under PT Tokopedia jointly owned by the two parties, with TikTok holding a controlling stake.

GoTO Group CEO Patrick Walujo said they can now expect to accelerate the company’s progress on the back of supportive ecosystem partners, noting positive adjusted earnings before interest, taxes, depreciation and amortisation in the fourth quarter of 2023. 

READ MORE: Indonesia restricts social commerce for local traders

“Today marks the completion of a partnership with TikTok that will continue to bring benefits to Indonesia and its MSMEs (micro, small and medium-sized enterprises),” he said.

“As our profitability and cash flow continue to improve, we will optimize our capital usage in line with a newly developed capital allocation plan, which may include a share buyback initiative, subject to regulatory and shareholder approval,” he added.

The merger came following TikTok’s $1.5b investment in GoTo to support Indonesian MSMEs.

Follow the link s for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!