Sources: TikTok Shop cuts several hundred jobs in Indonesia, leaving Tokopedia and TikTok Shop with ~2,500 employees in the country, down from ~5,000 last year
Olivia Poh / Bloomberg :
Sources: Indonesia and Apple agree a deal to lift the iPhone 16 ban, with Apple set to invest $1B; a memorandum of agreement may be signed this week
- Tech giant has promised to invest $1 billion in Indonesia — Deal would be win for Prabowo after series of policy setbacks
Sources: SoftBank-backed eFishery, Indonesia's high-profile agritech startup, cuts over 1,000 jobs, or ~90% of its workforce, and weighs a potential liquidation
- Indonesia's high-profile agritech startup cuts over 1,000 jobs — Company unraveling after allegedly faking most of its revenue
A look at TikTok-owned Tokopedia's sprawling e-commerce logistics network for delivering goods across Indonesia, a country of 270M people and 17,000 islands
New York Times :
Sources detail how TikTok struck a deal with GoTo to buy a ~75% stake in Tokopedia for $840M, letting TikTok restart TikTok Shop in Indonesia in December 2023
Agata Pinastika Kenastuti's children's clothing shop in Jakarta, Indonesia, was full of inventory when TikTok Shop shut.
TikTok plans to invest $1.5B and take a 75% stake in GoTo's e-commerce unit Tokopedia, part of a deal that lets TikTok restart its shopping service in Indonesia
https://lnkd.in/g6FC2myN Fabian Moa / Fabian Moa, CFA, FRM, CTP, FMVA, AFM : The recent strategic alliance between GoTo and TikTok presents a fascinating blend of opportunities and risks for investors...
TikTok plans to invest $1.5B in a joint venture with GoTo, aiming to comply with regulations in Indonesia so that TikTok can restart its shopping service there
https://lnkd.in/g6FC2myN Fabian Moa / Fabian Moa, CFA, FRM, CTP, FMVA, AFM : The recent strategic alliance between GoTo and TikTok presents a fascinating blend of opportunities and risks for investors...
JD.com's joint ventures in Thailand and Indonesia plan to shut down in March 2023 amid regional competition, as JD.com focuses on logistics and growth in China
Ben Jiang / South China Morning Post :
Sources: Indonesia's GoTo Group is planning to cut 1,000+ jobs, more than 10% of its workforce, and curb its costs
Bloomberg :
Sources: Binance is in talks to set up a cryptocurrency exchange in Indonesia with PT Bank Central Asia, owned by the Hartonos, Indonesia's richest family
- Bank Central Asia, Telkom Indonesia are in talks with Binance — Discussions ongoing for a cryptocurrency trading platform