JAKARTA - PT GoTo Gojek Tokopedia Tbk (GOTO) denies the information regarding the company’s plan to stop up to 80% of Tokopedia’s service, its e-commerce platform, in the near future. This clarification is announced by R.A Koesoemohadiani, Corporate Secretary of GOTO, in the press release quoted Thursday (13/6).

“Within the capacity of GOTO as the non-minority shareholder of PT Tokopedia, there have been no plans to terminate nearly 80% of Tokopedia’s services,” said Koesoemohadiani.

However, the company admits to continue reviewing the effectiveness of Tokopedia as an organisation. The management of Tokopedia is believed to be able to make decision regarding its business management whilst paying attention to principles of prudence.

In December 2023, Tokopedia is announced to be partnered with TikTok to further boost the economy of micro, small, and medium enterprises (MSMEs). TikTok reportedly put an investment in Tokopedia worth USD 840 million, as stated in an agreement signed on December 10, 2023. In January 2024, GOTO’s shares in Tokopedia were then diluted to 24.99% following the issuance of 38.19 million shares acquired by TikTok Nusantara (SG) Pte Ltd. (LK/ZH)