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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 .
Indonesia's e-commerce industry is set to expand to be worth about $160 billion by 2030 from $62 billion this year, according to a report by Google, Singapore state investor Temasek Holdings and ...
Shopee Pte. Ltd., trading as Shopee, is a Singaporean multinational technology company that specializes in e-commerce.It operates as a subsidiary of Sea Limited.Shopee was founded in 2015 in Singapore, and subsequently expanded its operations to other countries.
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.
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
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]
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 ...
[8] [9] [10] It is one of the largest e-commerce companies in Indonesia and is its fourth startup to become a unicorn. [ 4 ] [ 5 ] [ 6 ] Its initial public offering (IPO) on the Indonesian Stock Exchange was the largest ever at the time, in 2021, when it raised up to US$1.5 billion, though it lost nearly 66% of its market value six months later.