Short video app TikTok plans to speculate billions of {dollars} in Southeast Asia over the subsequent few years, its CEO Shou Zi Chew mentioned on Thursday.
Chew mentioned at an occasion held in Indonesia that TikTok’s content material is turning into extra diversified because it provides extra customers and expands into e-commerce. TikTok is owned by China’s ByteDance.
Southeast Asia is one among TikTok’s greatest markets when it comes to person numbers. But the platform has but to translate the massive person base into a significant e-commerce income supply because it faces fierce competitors from larger rivals of Sea’s Shopee, Alibaba’s Lazada and GoTo’s Tokopedia.
TikTok’s e-commerce platform lets shoppers buy items by way of hyperlinks on the app throughout livestreaming.
Chew mentioned TikTok has 8,000 workers in Southeast Asia, and a couple of million small distributors who’re promoting their wares on its platform, with out elaborating additional.
Meanwhile, TikTok is going through calls from US lawmakers and state officers to ban the app nationwide over considerations about potential Chinese authorities affect over the platform. Recently, a bipartisan group of six senators and two members of the House of Representatives launched laws to guard Americans’ knowledge from being utilized by US adversaries. The invoice goals to deal with considerations in regards to the knowledge of Americans utilizing foreign-owned social media apps like TikTok. Senate Finance Committee Chairman Ron Wyden, a Democrat, mentioned the invoice “would turn off the tap of data to unfriendly nations, stop TikTok from sending Americans’ personal information to China, and allow nations with strong privacy protections to strengthen their relationships.”
© Thomson Reuters 2023
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