TikTok Becomes Tokopedia's Controller; Here's Its Ownership Stake

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Adi Ahdiat 11/12/2023 19:01 WIB

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In its information disclosure, GoTo stated that TikTok will hold 75.01% of Tokopedia's total capital, while GoTo's ownership will be 24.99%.

Tokopedia's Shareholder Composition (December 11, 2023)

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Tokopedia's Shareholder Composition (December 11, 2023)

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GoTo Gojek Tokopedia Tbk (GoTo) and TikTok announced their strategic partnership on Monday, December 11, 2023.

TikTok has committed to investing over US$1.5 billion to support Tokopedia's operations.

Therefore, the Chinese company will become the controlling shareholder of Tokopedia. They will also combine the local e-commerce service with TikTok Shop.

In its disclosure, GoTo stated that TikTok will own 75.01% of Tokopedia's total capital, while GoTo will retain 24.99%.

The investment related to this acquisition is planned to be completed in the first quarter of 2024.

"The parties have agreed that the Company's (GoTo) ownership in Tokopedia will not be further diluted due to future funding from TikTok," said GoTo management in its press release on Monday, December 11, 2023.

The strategic partnership between TikTok and Tokopedia will begin with a trial period under the supervision of relevant ministries and agencies.

"The program to be launched during the trial period is the 'Beli Lokal' (Buy Local) campaign, starting on December 12, 2023, coinciding with National Online Shopping Day," said GoTo management.

"Available on the Tokopedia and TikTok apps, the 'Beli Lokal' campaign will promote various types of merchants, with a primary focus on Indonesian products," they added.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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TikTok Becomes Tokopedia's Controller; Here's Its Ownership Stake

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TikTok Becomes Tokopedia's Controller; Here's Its Ownership Stake

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