ByteDance’s Investment in GoTo: A Strategic Move or a Risky Gamble?

By Editorial Team 06/12/2023
GOTO
Summary

ByteDance Ltd, the parent company of TikTok, has agreed to collaborate with PT GoTo Gojek Tokopedia Tbk (GOTO) to launch an e-commerce service in Indonesia. According to a report by Bloomberg on Tuesday, ByteDance has agreed to invest in a GoTo unit that operates in the online shopping sector. "TikTok and Tokopedia are expected to announce their partnership next week," a source told Bloomberg.

GoTo and ByteDance management have not commented on the report. Following this collaboration news with TikTok, GOTO's shares experienced a rebound to a level of 105, even though they closed the session at 101, a slight decrease from the previous day's level of 102. GOTO's shares were traded 97,787 times, with a transaction value of Rp 1.76 trillion. The total number of shares traded was 17.96 billion. GOTO's market capitalization is Rp 121.34 trillion.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.