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E-commerce is big business for ByteDance. In China, consumer spending on Douyin—the Chinese version of TikTok—increased by 76% year-on-year in 2022 to hit $195 billion, The Information reported .
TikTok has completed its deal to take control of Indonesia's biggest e-commerce platform, which has allowed the Chinese social media giant to restart for its online shopping business in the country.
Ministry of Cooperatives and SMEs further said that TikTok should establish a legal entity in Indonesia, and acquire a permit to operate e-commerce, in accordance to Minister of Trade Regulation No. 31 of 2023. [40] In December 2023, TikTok's parent company, ByteDance acquired 75% shares of Tokopedia, leaving only 25% shares owned by GoTo. [41]
After 2000, the e-commerce market was mainly dominated by business-to-business (B2B) transactions due to consumer mistrust after going through the 1997's financial crisis in Southeast Asia and the bubble burst. The only way e-commerce companies could re-enter the business-to-consumer (B2C) market was to earn
JAKARTA (Reuters) -E-commerce firm Shopee said on Wednesday it agreed to make changes to its services in Indonesia after the country's antitrust agency said the platform had admitted to violating ...
Blibli's subsidiaries include tiket.com [2] and supermarket chain Ranch Market. [3] Blibli became Indonesia's third unicorn startup [4] through its initial public offering on the Indonesia Stock Exchange in late 2022. [5] At 7.99 trillion rupiah (US$509.2 million), the listing was the second-largest of the year after GoTo in April. [6]
JAKARTA (Reuters) - Short video app TikTok is in the process of obtaining an e-commerce permit from Indonesia's government, state news agency Antara reported, citing the deputy trade minister.
Trading activity and market capitalization grew alongside the development of Indonesia's financial markets and private sector – highlighted by a major bull run in 1990. On 13 July 1992, the exchange was privatised under the ownership of Jakarta Exchange Inc. As a result, the functions of Bapepam changed to become the Capital Market ...