We are advising GoTo on its strategic partnership with TikTok

Davis Polk is advising PT GoTo Gojek Tokopedia Tbk (GoTo) in connection with its strategic partnership with TikTok to drive long-term growth for Indonesia’s micro, small and medium enterprises sector and the country’s digital economy as a whole. As part of the transaction, GoTo’s e-commerce platform, PT Tokopedia, and TikTok Shop Indonesia’s businesses will be combined under the existing Tokopedia entity in which TikTok will take a controlling stake. TikTok has committed to invest over $1.5 billion in the combined entity over time, to provide future funding required by the business, without additional dilution to GoTo.

Founded in 2010 and headquartered in Jakarta, Indonesia, GoTo is the largest digital ecosystem in Indonesia, with a mission to empower progress by offering technology infrastructure and solutions that help everyone to access and thrive in the digital economy. GoTo’s ecosystem comprises on-demand transport, e-commerce, food and grocery delivery, logistics and fulfillment, and financial services through the Gojek, Tokopedia and GoTo Financial platforms.

TikTok is the leading destination for short-form mobile video. With global headquarters in Los Angeles and Singapore and offices around the world, TikTok connects individuals to a vibrant and engaged hub of content creators, enabling people to connect with friends and family through creative expression.

The Davis Polk corporate team includes partner Miranda So, counsel Sam Kelso and registered foreign lawyer Rebecca Yang. Members of the Davis Polk team are based in the Hong Kong and Beijing offices.