GoTo, the Indonesian tech giant that owns ride-hailing and delivery service Go-Jek and e-commerce platform Tokopedia, had an eventful 2023. In June, there was a management shake-up, with Patrick Walujo replacing Andre Soelistyo as president director (Soelistyo now holds a position on the Board of Commissioners). Then in December, GoTo reached a deal with TikTok, … Read more
Advertisement TikTok’s abrupt suspension of its online retail business in Indonesia last week, in order to comply with the government’s social media e-commerce ban, dealt a heavy blow to its rapidly expanding e-commerce operation. This situation is not one of governments picking losers, but rather of losers shaping policy, as declining businesses often seek to … Read more
Pacific Money | Economy | Southeast Asia The move came after the Indonesian government announced an immediate ban on commerce transactions on social media platforms. Advertisement TikTok has halted its online retail operation in Indonesia in order to comply with the country’s recent decision to ban e-commerce transactions on social media platforms. In a statement yesterday, the Chinese-owned video-sharing … Read more
Advertisement On Wednesday, Indonesia’s Trade Minister Zulkifli Hasan announced that the country was banning e-commerce transactions on social media networks, dealing a major blow to the regional plans of the Chinese firm TikTok. According to a Reuters report, Zulkifli told a news conference that the regulation is intended to protect offline merchants and marketplaces. He … Read more