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CORPORATE STRATEGIC - JAKARTA. PT GoTo Gojek Tokopedia Tbk (GOTO) continues to maneuver after the leadership baton of the GoTo Group is controlled by Patrick Walujo. Most recently, the entry of TikTok Shop into the GOTO ecosystem.
As is known, the business entity ByteDance Ltd. has taken over 75% of PT Tokopedia's shares. As a result, TikTok will be the controlling shareholder of this green-logoed e-commerce and GOTO will only hold 25%.
GOTO's CEO Patrick Walujo said that the merger of Tokopedia with TikTok Shop is GOTO's effort to make Tokopedia even bigger, even becoming the market share ruler.
He told that many large companies in Indonesia have negotiated with TikTok to become partners. However, GOTO also made efforts to partner with TikTok.
"The choice is between surviving or dying slowly. In the end, we decided to join TikTok," said Patrick, Thursday (25/1).
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According to him, the merger of Tokopedia and TikTok Shop will give birth to the number one e-commerce in Indonesia. Patrick said this is his promise to Tokopedia employees.
"We promise to make Tokopedia the number one e-commerce player in Indonesia and we fulfill that promise," said the man who also serves as Co-Founder & Managing Partner of Northstar Group.
Patrick explained that the merger plan between Tokopedia and TikTok Shop is still ongoing. He hopes this consolidation process can be completed in the first quarter of 2024.
Actually, GOTO will benefit from the collaboration of TikTok Shop with Tokopedia through e-commerce service fees or e-commerce services fee. This fee will be paid every quarter.
"We get a fee from the transaction. This will affect our bottom line and will have a big impact on GOTO," said Patrick.
