Australia’s Corporate Leaders Face Parliament Over KPMG Client Data Scandal 
Sanrio Shares Plunge as Q1 Profit Miss Overshadows Strong Sales 
Bernstein Picks BYD and Xiaomi as Top China EV Stocks Despite Weaker Demand 
SpaceX Shares Surge as Wall Street Backs AI Growth Potential 
Stripe, Advent Reportedly Pursue $53 Billion PayPal Takeover 
Google Pushes Gemini AI Overhaul as Sergey Brin Targets Model Supremacy 
LG, Nvidia Expand AI Partnership With Humanoid Robots, AI Factories 
Paramount Weighs CNN Sale as $110B Warner Bros. Discovery Deal Faces Antitrust Fight 
Micron Stock Upgraded to Buy as New Street Sees $2 Trillion Valuation Potential 
ANZ Home Loan Applications Drop 12% After Australia Property Tax Changes 
Pandora Shares Rise as Q2 Results Beat Forecasts, 2026 Outlook Raised 
Cisco Forecasts Strong Fiscal 2027 Growth as AI Networking Demand Surges 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
Super Micro Stock Jumps 19% as AI Server Demand Drives Strong 2027 Outlook 
SMIC Shares Rally as Q2 Profit Surges 262% on Strong Chip Demand 
Maersk Raises 2026 Earnings Outlook as Shipping Profits Beat Expectations 
Goldman Sachs Eyes Investors for Nvidia’s $500 Billion AI Financing Plan 
Add as a preferred source on Google
TikTok is investing $1.5 billion to buy a controlling stake in GoTo's shop in Indonesia. If the deal is successfully pushed through, TikTok Shop will be able to reopen in the Indonesian market.
TikTok's latest investment is the e-commerce division of PT GoTo Gojek Tokopedia, the largest tech firm in the country, which would create a tie-up that is expected to last long-term. The companies confirmed the deal on Monday, Dec. 11.
Impending Reopening of TikTok Shop
The stake acquisition deal comes several months after the Indonesian regulator ordered a ban on online shopping on all social media platforms. The officials explained that it had implemented the ban as a way of protecting smaller local merchants while safeguarding users' data at the same time.
As a result, TikTok was forced to shut down its TikTok Shop e-commerce service in the country. According to Reuters, ByteDance's TikTok unit agreed to pay $1.5 billion for a joint venture with the GoTo Group. This will allow the Chinese short-form video hosting service to resume its e-commerce business in Indonesia.
TikTok will also comply with all regulations to avoid any issues in the future that may lead to another shutdown as it reopens its TikTok shop. "The strategic partnership will commence with a pilot period carried out in close consultation with and supervision by the relevant regulators," TikTok and GoTo said in a joint statement.
Resolution to Protect Smaller Merchants
As TikTok and GoTo joined forces for e-commerce business in Indonesia, they said they would also help the smaller sellers by promoting Indonesian products on their respective platforms. They said that this plan will help local small and medium-sized businesses develop their production and sales strategies, according to BBC News.
Meanwhile, based on the agreement, TikTok will purchase 75.01% of GoTo's PT Tokopedia. It will also invest in TikTok Shop's Indonesian business when it merges with Tokopedia.
