After being closed in October 2023, TikTok Shop, an e-commerce platform that is integrated with TikTok social media, has now formalized a partnership with Tokopedia, Beauties.
Reporting from the TikTok Newsroom, in a statement on Monday (11/12), PT GoTo Gojek Tokopedia Tbk (GoTo) and TikTok officially announced a strategic partnership. As part of this strategic partnership, the Tokopedia and TikTok Shop Indonesia businesses will be combined under PT Tokopedia.
Illustration of the application on a cellphone/ Photo: freepik.com
Furthermore, TikTok will have control over PT Tokopedia. The shopping service feature in the TikTok application in Indonesia will be operated and managed by PT Tokopedia.
Not only that, TikTok will also invest more than 1.5 billion USD or around IDR 23 trillion as a long-term commitment to invest to support Tokopedia’s operations, without further dilution of GoTo’s ownership in Tokopedia.
The strategic partnership between TikTok Shop and Tokopedia itself will begin with a trial period carried out with consultation and supervision from the relevant ministries and institutions.
The program that will be launched during this trial period is the Buy Local campaign starting on Tuesday (12/12), coinciding with National Online Shopping Day or Harbolnas which also aims to encourage digital economic growth through empowering local MSMEs.
In the future, TikTok, Tokopedia and the GoTo Group are committed to providing broader benefits for MSMEs in Indonesia by utilizing e-commerce platforms, and encouraging the creation of millions of new jobs in the next five years.
With the merger of the two businesses, more than 90% of merchants are MSMEs.
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