Ep.35 - Indonesia's TikTok Shop Ban & the Outlook on Local Tech Investing

Today marks the debut of AC Ventures' latest NewsCast series. Host Leighton Cosseboom is joined by ACV's Founder and Managing Partner Adrian Li to discuss the nuances of Indonesia's latest regulation pertaining to TikTok Shop.

China's TikTok has 125 million monthly active users in Indonesia, its second-largest market in the world. In 2022, TikTok Shop Indonesia recorded a gross merchandise value of US$2.5 billion. But as per regulation No.31/2023, Indonesia's Ministry of Trade now says that social media platforms cannot facilitate sales, e-commerce sites cannot directly sell imported items under US$100, and e-commerce platforms cannot act as producers or manufacturers. Players like TikTok Shop have a seven-day grace period to adapt.

Meanwhile, shares of publicly traded Sea Limited (NYSE: SE) and GoTo (IDX: GOTO) jumped significantly after the news broke. Adrian and Leighton also discuss the current state and future of the local technology investment space. Hear the pair's analysis and predictions of what is next to come.