Growing popularity of TikTok might have weighed on recovery of ‘local’ e-commerce giants listed on the Indonesia Stock Exchange (IDX). Shares of GOTO, parent of Tokopedia, were last traded at Rp88 to make a market capitalization of Rp94.6 trillion. bukalapak.com also traded at market capitalization of Rp27.4 trillion only. GOTO has long lost its decacorn status as investors demand improvement in bottom lines.To subscribe please click here
