China TikTok ByteDance Completes Business Combination & Acquisition of 75.01% Shareholding in Indonesia GoTo E-Commerce Business Tokopedia for $1.5 Billion Including Additional Investment & Merging TikTok Shop, Online Shopping TikTok Shop was Banned in Indonesia for Data Privacy & Protection of Smaller Merchants
1st February 2024 | Hong Kong
China TikTok ByteDance has completed the business combination & acquisition of 75.01% shareholding (31/1/24) in Indonesia GoTo e-commerce business Tokopedia for $1.5 billion including additional investment & merging TikTok Shop. Online shopping TikTok Shop was banned in Indonesia for data privacy & protection of smaller merchants. In 2021, Indonesia’s largest technology companies Gojek and Tokopedia merged to form the GoTo Group, creating one of the largest technology company in Southeast Asia alongside SEA (originally Garena) and Grab. GoTo had IPO (Initial Public Offering, 11/4/22 ) on Indonesia Stock Exchange (IDX), rising 13% on day 1 with $33 billion market value on 11th April 2022. PT GoTo Gojek Tokopedia was formed in 2021 with the merger of ride-hailing & payments company Gojek and e-commerce Tokopedia, raising $1.1 billion in the IPO. GoTo market value is currently at $5.95 billion (13/12/23). In early December 2023, TikTok parent ByteDance was reported to be planning to spend $5 billion in share buyback from shareholders at $268 billion valuation. More info below:
“ China TikTok ByteDance Completes Business Combination & Acquisition of 75.01% Shareholding in Indonesia GoTo E-Commerce Business Tokopedia for $1.5 Billion Including Additional Investment & Merging TikTok Shop, Online Shopping TikTok Shop was Banned in Indonesia for Data Privacy & Protection of Smaller Merchants “
China TikTok ByteDance Buys 75.01% Shareholding of Indonesia GoTo E-Commerce Business Tokopedia for $1.5 Billion Including Additional Investment & Merging TikTok Shop, Online Shopping TikTok Shop was Banned in Indonesia for Data Privacy & Protection of Smaller Merchants
13th December 2023 – China TikTok ByteDance has announced to buy 75.01% shareholding of Indonesia GoTo e-commerce business Tokopedia for $1.5 billion including additional investment & merging TikTok Shop. Online shopping TikTok Shop was banned in Indonesia for data privacy & protection of smaller merchants. In 2021, Indonesia’s largest technology companies Gojek and Tokopedia merged to form the GoTo Group, creating one of the largest technology company in Southeast Asia alongside SEA (originally Garena) and Grab. GoTo had IPO (Initial Public Offering, 11/4/22 ) on Indonesia Stock Exchange (IDX), rising 13% on day 1 with $33 billion market value on 11th April 2022. PT GoTo Gojek Tokopedia was formed in 2021 with the merger of ride-hailing & payments company Gojek and e-commerce Tokopedia, raising $1.1 billion in the IPO. GoTo market value is currently at $5.95 billion (13/12/23). In early December 2023, TikTok parent ByteDance was reported to be planning to spend $5 billion in share buyback from shareholders at $268 billion valuation. More info below:
TikTok Parent ByteDance to Spend $5 Billion in Share Buyback from Shareholders at $268 Billion Valuation, Previously Reported in October 2023 Share Buy-Back Exercise from Employees Valuation of $223.5 Billion Valuation at $160 Per Share, ByteDance2023 Q1 Profit Estimated at $6 Billion
7th December 2023 – TikTok parent ByteDance is planning to spend $5 billion in share buyback from shareholders at $268 billion valuation. In October 2023, ByteDance had been reported to be conducting a share buy-back exercise from employees, with valuation dropping from $300 billion to $223.5 billion valuation at $160 per share. ByteDance 2023 Q1 profit is estimated at $6 billion. In May 2023, ByteDance & TikTok founder Zhang Yiming with $43 billion fortune had setup a new investment company in Hong Kong. The new investment company is Cool River Venture HK with Zhang Yiming registered as the sole director, and the shareholder is Galaxy (Cayman Islands vehicle). Earlier in 2023 May, Zhang Yiming donated $29 million (CNY 200 million) to his hometown $72 million (CNY 500 million) education fund he created in 2021.
TikTok Parent ByteDance Stock Buy-Back Exercise from Employees Valuation Drops from $300 Billion to $223.5 Billion Valuation at $160 Per Share, ByteDance2023 Q1 Profit Estimated at $6 Billion
7th October 2023 – TikTok parent ByteDance stock buy-back exercise from employees valuation has dropped from $300 billion to $223.5 billion valuation at $160 per share. ByteDance 2023 Q1 profit is estimated at $6 billion. In May 2023, ByteDance & TikTok founder Zhang Yiming with $43 billion fortune had setup a new investment company in Hong Kong. The new investment company is Cool River Venture HK with Zhang Yiming registered as the sole director, and the shareholder is Galaxy (Cayman Islands vehicle). Earlier in 2023 May, Zhang Yiming donated $29 million (CNY 200 million) to his hometown $72 million (CNY 500 million) education fund he created in 2021.
ByteDance & TikTok Founder Zhang Yiming with $43 Billion Fortune Setup New Investment Company in Hong Kong, Cool River Venture HK with Zhang Yiming as Sole Director and Shareholder is Cayman Islands Vehicle Galaxy
26th May 2023 – ByteDance & TikTok founder Zhang Yiming with $43 billion fortune has setup a new investment company in Hong Kong. The new investment company is Cool River Venture HK with Zhang Yiming registered as the sole director, and the shareholder is Galaxy (Cayman Islands vehicle). Earlier in 2023 May, Zhang Yiming donated $29 million (CNY 200 million) to his hometown $72 million (CNY 500 million) education fund he created in 2021. More info below.
Billionaire Founder of TikTok & ByteDance with $43 Billion Fortune Zhang Yiming Donates $29 Million to His Hometown $72 Million Education Fund He Created in 2021
5th May 2023 – The billionaire founder of TikTok & ByteDance with $43 billion fortune Zhang Yiming has donated $29 million (CNY 200 million) to his hometown $72 million (CNY 500 million) education fund he created in 2021. The Longyan (Fujian Province, China) education bureau announced the donation, which will be used to support education on public welfare, vocational & art in Longyan city. The education fund is named “Fang Mei” (Zhang Yiming’s grandmothers).
ByteDance
ByteDance was founded in 2012 by a team led by Yiming Zhang and Rubo Liang, who saw opportunities in the then-nascent mobile internet market, and aspired to build platforms that could enrich people’s lives. The company launched Toutiao, one of its flagship products, in August 2012. It followed that success with the launch of Douyin in September 2016. Approximately a year later, ByteDance accelerated globalization with the launch of its global short video product, TikTok. It quickly took off in markets like Southeast Asia, signaling a new opportunity for the company. ByteDance acquired Musical.ly in November 2017 and subsequently merged it with TikTok. Today, the TikTok platform, which is available outside of China, has become the leading destination for short-form mobile videos worldwide. In support of its mission to Inspire Creativity and Enrich Life, ByteDance has made it easy and fun for people to connect with, create and consume content. People are also able to discover and transact with a suite of more than a dozen products and services such as TikTok, CapCut, TikTok Shop, Lark, Pico and Mobile Legends: Bang Bang, as well as products and services specific to the China market, including Toutiao, Douyin, Fanqie, Xigua, Feishu and Douyin E-commerce. ByteDance has over 150,000 employees based out of nearly 120 cities globally, including Austin, Barcelona, Beijing, Berlin, Dubai, Dublin, Hong Kong, Jakarta, London, Los Angeles, New York, Paris, Seattle, Seoul, Shanghai, Shenzhen, Singapore, and Tokyo.
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