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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]
Indonesia nominal GDP reached 22.139 quadrillion rupiah in 2024, it is the 16th largest economy in the world by nominal GDP and the 8th largest in terms of GDP (PPP). Indonesia 's internet economy reached US$77 billion in 2022, and is expected to cross the US$130 billion mark by 2025. [ 34 ]
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 ...
A month later, Alibaba Cloud's first Singapore data center opened, and Singapore was announced as Alibaba Cloud's overseas headquarters. Two US data centers went online in October 2015, and that same month MaxCompute took the lead in the Sort Benchmark, sorting 100 TB data in 377s compared with Apache Spark's previous record of 1406s. [12]
PT Tokopedia is an Indonesian e-commerce company. [2] Tokopedia is a subsidiary of a new holding company called GoTo, following a merger with Gojek on 17 May 2021. [3] [4] It is one of the most visited e-commerce platforms in Indonesia. [5] Tokopedia is one of Indonesia's unicorn companies, alongside Bukalapak, Gojek, OVO, and Traveloka.
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.
In February 2024, Qoo10 acquired Wish.com, an American e-commerce platform for approximately $173 million. [19] At that time, the Qoo10.com site rebranded the logo from Qoo10 to Wish+. But the Tmon and WeMakePrice refund issue cause the name to be retracted to Qoo10. In August 2024, Qoo10 reportedly cut over 80% of its workforce in Singapore.
The rapid growth of convenience stores and e-commerce in Indonesia shifted consumer behavior to online shopping. [12] This shift resulted in the company downsizing its Giant outlets starting 2019. [ 13 ] [ 14 ] In 2021, CEO Patrik Lindvall said that management has closely seen the trends of the global hypermarket industry, with Walmart ...