TikTok and GoTo team up in Indonesia, threatening Southeast Asia's e-commerce giant
Publishing timestamp: 2023-12-12 01:35:49
Summary
The article discusses the strategic partnership between GoTo (a merger between Gojek and Tokopedia) and TikTok in Indonesia. This partnership may put pressure on Shopee, the e-commerce arm of Sea Limited, as it struggles to maintain profitability. The deal involves combining Tokopedia and TikTok Shop Indonesia into an enlarged Tokopedia entity, with TikTok taking a controlling stake. The article also mentions concerns about the impact on Shopee's competitiveness and Sea's pivot to growth over profits.
Sentiment: MIXED
Keywords: asia economy, business news, sea ltd, internet, breaking news: technology, alibaba group holding ltd, technology,