ByteDance Ltd.’s TikTok has struck an agreement to invest in a unit of Indonesia’s GoTo Group and cooperate on an online shopping service, pioneering a template for e-commerce beyond Southeast Asia’s biggest economy.
The Chinese-owned video service has agreed broadly to work with GoTo’s Tokopedia across several areas rather than compete directly with the Indonesian platform, people familiar with the pact said. The pair aim to announce details of that tie-up as soon as next week, the people said, asking not to be identified disclosing a deal before it’s formalized.
WATCH: ByteDance will invest in a unit of Indonesia’s GoTo Group.
Source: Bloomberg
GoTo’s shares erased morning declines to climb as ...
