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TikTok to open a shop in Indonesia for $1.5 billion

Social media app TikTok has struck a joint venture deal with Indonesian tech giant GoTo to restart its online shopping business in the country. Many of Indonesia’s population of more than 270 million people are active social media users, and they made up TikTok’s biggest online retail market before the ban came into force in October.In October, TikTok Shop shut down in Indonesia to comply with new rules in South East Asia’s largest economy. Under the deal, TikTok will buy just over 75% of Tokopedia and integrate TikTok Shop’s Indonesia business with it. Is this worth of investment ?

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