Latest news with #Tokopedia
Bloomberg
a day ago
- Business
- Bloomberg
TikTok Shop Cutting More Indonesia Jobs After Taking Over Rival
ByteDance Ltd. 's e-commerce arm TikTok Shop is eliminating several hundred jobs in Indonesia in its latest round of cuts, slashing costs after taking over the operations of local rival Tokopedia last year. The Chinese social media giant is reducing staff across e-commerce teams including logistics, operations, marketing and warehousing, according to people familiar with the matter. More cuts are set to happen as soon as July, said one of the people, who asked not to be identified because the discussions haven't been made public. The reduction leaves Tokopedia and TikTok Shop with about 2,500 employees in total in Indonesia.
Business Times
3 days ago
- Business
- Business Times
Indonesia antitrust agency finds risk of monopoly from TikTok's Tokopedia takeover
[JAKARTA] Indonesia's antitrust agency on Wednesday (May 28) said last year's takeover of the country's biggest e-commerce platform Tokopedia by TikTok carried a risk of monopoly. TikTok, owned by China's ByteDance, in January 2024 completed a deal to buy 75.01 per cent of Tokopedia for US$840 million from GoTo. The antitrust agency said it had found during its investigation process a significant increase in market concentration and the possibility of post-acquisition price increases due to market dominance. TikTok declined to comment while Tokopedia did not immediately respond to a request for comment. The antitrust agency has power to investigate and determine violations of competition law and impose fines or issue administrative sanctions, based on their findings. The agency listed several requirements for TikTok and Tokopedia, including ensuring open methods for payment and logistics and prohibition of self-preferencing and predatory pricing practices. It also asked the companies to provide monthly reports every three months for two years, as well as lists and agreement documents of logistics and payment partner companies both before and after the acquisition. The next hearing is on Jun 10. TikTok was forced to close its relatively new e-commerce service, TikTok Shop, in Indonesia after the country banned online shopping on social media platforms in September last year, citing the need to protect smaller merchants and users' data. REUTERS
Reuters
3 days ago
- Business
- Reuters
Indonesia antitrust agency finds risk of monopoly from TikTok's Tokopedia takeover
JAKARTA, May 28 (Reuters) - Indonesia's antitrust agency said on Wednesday that last year's takeover of the country's biggest e-commerce platform Tokopedia by TikTok carried a risk of monopoly. TikTok, owned by China's ByteDance, in January 2024 completed a deal that was agreed a month earlier to buy 75.01% of Tokopedia for $840 million from GoTo ( opens new tab.
Yahoo
3 days ago
- Business
- Yahoo
Zilliz Powers AI-Driven Retail Experiences for Global E-Commerce Leaders
Retail giants like Tokopedia, FARFETCH, and Leboncoin turn to Zilliz for faster search, smarter recommendations, and massive infrastructure savings. REDWOOD CITY, Calif., May 28, 2025 /PRNewswire/ -- Zilliz, creator of the world's most widely adopted open source vector database, Milvus, today announced widespread adoption of its vector database solutions by leading global e-commerce platforms. From visual search and semantic recommendations to real-time inventory matching, retailers using Zilliz Cloud and Milvus report improved customer experiences, faster performance, and infrastructure savings of up to 75%. "As shoppers increasingly expect instant, intuitive search across massive catalogs, retailers need AI-native infrastructure built for unstructured data," said Chris Churilo, VP of Marketing at Zilliz. "Our customers are delivering next-generation discovery experiences — powered by vector search — while dramatically reducing cost and complexity." Unlocking the Future of Product Discovery E-commerce platforms implementing open-source Milvus and Zilliz Cloud (a fully managed Milvus service) for vector search are unlocking new capabilities that directly impact their bottom line: Unlocking the Future of Product Discovery Retailers across regions and segments are adopting Zilliz to power high-performance, scalable AI search and recommendation systems. Results include: Up to 40% more accurate product matching using hybrid semantic + keyword search Sub-30ms latency for personalized recommendations — even during traffic spikes 75% infrastructure cost savings by consolidating legacy systems into a single vector database Faster visual and multimodal search, enabling users to upload photos or describe styles and find products instantly "Zilliz Cloud gave us the speed and scale we needed to power visual search, meeting our sub-200ms latency target and making product discovery seamless for millions of users," said Yann Lemonnier of Leboncoin. "Our search is now 10× smarter and more reliable with Milvus," added Rahul Yadav of Tokopedia, serving 90 million monthly users. Proven Results Across Global Retailers E-commerce leaders across Asia, Europe, and North America are reporting breakthrough improvements in performance and efficiency after switching to Zilliz: Leboncoin (France): Built a visual search engine on 80M listings with sub-200ms latency using Zilliz Cloud Tokopedia (Indonesia): Deployed hybrid search (vector + keyword) for 90M monthly users, resulting in 40% more accurate matches VIPSHOP (China): Replaced Elasticsearch-based recommender system with Milvus, achieving 10× faster queries and 30ms response times Beni (US): Scaled to 200M listings and 1M daily updates while cutting infrastructure costs by 75% These platforms also report simplified architecture, faster deployment of new AI features, and improved reliability during peak traffic periods. A New Standard for AI Infrastructure Zilliz Cloud, a fully managed vector database service, provides retailers with the ability to: Handle billions of unstructured data points with sub-100ms latency Combine semantic and keyword search in a single system Scale seamlessly across regions and traffic volumes Reduce cost and complexity by consolidating infrastructure Organizations looking to transform their e-commerce experiences with vector search can learn more about Zilliz Cloud at or contact sales for more details. About Zilliz Zilliz is an American SaaS company that builds next-generation vector database technologies, helping organizations unlock the value of unstructured data and rapidly develop AI and machine learning applications. By simplifying complex data infrastructure, Zilliz brings the power of AI within reach for enterprises, teams, and individual developers alike. Zilliz offers a fully managed, multi-cloud vector database service powered by open-source Milvus, supporting major cloud platforms such as AWS, GCP, and Azure, and is available across more than 20 countries and regions. Headquartered in Redwood Shores, California, Zilliz is backed by leading investors including Aramco's Prosperity7 Ventures, Temasek's Pavilion Capital, Hillhouse Capital, 5Y Capital, Yunqi Partners, Trustbridge Partners, and others. View original content: SOURCE zilliz Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Zilliz Powers AI-Driven Retail Experiences for Global E-Commerce Leaders
Retail giants like Tokopedia, FARFETCH, and Leboncoin turn to Zilliz for faster search, smarter recommendations, and massive infrastructure savings. REDWOOD CITY, Calif., May 28, 2025 /PRNewswire/ -- Zilliz, creator of the world's most widely adopted open source vector database, Milvus, today announced widespread adoption of its vector database solutions by leading global e-commerce platforms. From visual search and semantic recommendations to real-time inventory matching, retailers using Zilliz Cloud and Milvus report improved customer experiences, faster performance, and infrastructure savings of up to 75%. "As shoppers increasingly expect instant, intuitive search across massive catalogs, retailers need AI-native infrastructure built for unstructured data," said Chris Churilo, VP of Marketing at Zilliz. "Our customers are delivering next-generation discovery experiences — powered by vector search — while dramatically reducing cost and complexity." Unlocking the Future of Product Discovery E-commerce platforms implementing open-source Milvus and Zilliz Cloud (a fully managed Milvus service) for vector search are unlocking new capabilities that directly impact their bottom line: Unlocking the Future of Product Discovery Retailers across regions and segments are adopting Zilliz to power high-performance, scalable AI search and recommendation systems. Results include: Up to 40% more accurate product matching using hybrid semantic + keyword search Sub-30ms latency for personalized recommendations — even during traffic spikes 75% infrastructure cost savings by consolidating legacy systems into a single vector database Faster visual and multimodal search, enabling users to upload photos or describe styles and find products instantly "Zilliz Cloud gave us the speed and scale we needed to power visual search, meeting our sub-200ms latency target and making product discovery seamless for millions of users," said Yann Lemonnier of Leboncoin. "Our search is now 10× smarter and more reliable with Milvus," added Rahul Yadav of Tokopedia, serving 90 million monthly users. Proven Results Across Global Retailers E-commerce leaders across Asia, Europe, and North America are reporting breakthrough improvements in performance and efficiency after switching to Zilliz: Leboncoin (France): Built a visual search engine on 80M listings with sub-200ms latency using Zilliz Cloud Tokopedia (Indonesia): Deployed hybrid search (vector + keyword) for 90M monthly users, resulting in 40% more accurate matches VIPSHOP (China): Replaced Elasticsearch-based recommender system with Milvus, achieving 10× faster queries and 30ms response times Beni (US): Scaled to 200M listings and 1M daily updates while cutting infrastructure costs by 75% These platforms also report simplified architecture, faster deployment of new AI features, and improved reliability during peak traffic periods. A New Standard for AI Infrastructure Zilliz Cloud, a fully managed vector database service, provides retailers with the ability to: Handle billions of unstructured data points with sub-100ms latency Combine semantic and keyword search in a single system Scale seamlessly across regions and traffic volumes Reduce cost and complexity by consolidating infrastructure Organizations looking to transform their e-commerce experiences with vector search can learn more about Zilliz Cloud at or contact sales for more details. About Zilliz Zilliz is an American SaaS company that builds next-generation vector database technologies, helping organizations unlock the value of unstructured data and rapidly develop AI and machine learning applications. By simplifying complex data infrastructure, Zilliz brings the power of AI within reach for enterprises, teams, and individual developers alike. Zilliz offers a fully managed, multi-cloud vector database service powered by open-source Milvus, supporting major cloud platforms such as AWS, GCP, and Azure, and is available across more than 20 countries and regions. Headquartered in Redwood Shores, California, Zilliz is backed by leading investors including Aramco's Prosperity7 Ventures, Temasek's Pavilion Capital, Hillhouse Capital, 5Y Capital, Yunqi Partners, Trustbridge Partners, and others. View original content: SOURCE zilliz Sign in to access your portfolio
