Short video app TikTok plans to invest billions of dollars in Southeast Asia over the next few years, its CEO Shou Zi Chew said on Thursday. | Reuters
TikTok Chief Executive Shou Zi Chew on Capitol Hill in Washington, U.S., March 23, 2023. REUTERS/Evelyn Hockstein/File photo
JAKARTA -Short video app TikTok plans to invest billions of dollars in Southeast Asia over the next few years, its CEO Shou Zi Chew said on Thursday. Chew said at an event held in Indonesia that TikTok’s content is becoming more diversified as it adds more users and expands into e-commerce. TikTok is owned by China’s ByteDance.Southeast Asia is one of TikTok’s biggest markets in terms of user numbers. But the platform has yet to translate the large user base into a major e-commerce revenue source as it faces fierce competition from bigger rivals of Sea’s Shopee, Alibaba’s Lazada and GoTo’s Tokopedia.
TikTok’s e-commerce platform lets consumers purchase goods through links on the app during livestreaming.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New ISIS emir in Southeast Asia killed in Marawi raidCAGAYAN DE ORO CITY (MindaNews / 14 June)—Army soldiers raided a suspected hideout of the ISIS-linked Dawlah Islamiyah group dawn Wednesday in Marawi City and killed its leader, whom the […]
Read more »
Early humans left Africa and reached Asia earlier than thought, fossil discovery revealsTwo fossils unearthed in a cave in Laos suggest Homo sapiens was living in the region 86,000 years ago, challenging prevailing ideas about early human migration.
Read more »
Dollar rallies in Asia after Fed signals rate hikes; yen, kiwi slideThe U.S. dollar rallied in Asian trading on Thursday after the Federal Reserve signaled rate hikes later in the year, while China’s and New Zealand’s currencies fell on signs of weakness in those economies. | Reuters
Read more »
Meta CEO says the company will integrate AI into its productsMeta CEO Mark Zuckerberg told his employees his company is going through an artificial intelligence race during a meeting on June 8, 2023. According to Axios, the tech firm will release a “range of
Read more »
Twitter CEO Linda Yaccarino shares first employee memoNew Twitter CEO Linda Yaccarino sent her first employee memo on Monday explaining her long-term objectives for the company. Interestingly, she echoed some of Elon Musk’s words when describing these goals.
Read more »
Fewer people trust traditional media, more turn to TikTok for news – reportAudiences pay more attention to celebrities, influencers, and social media personalities than journalists, a report says.
Read more »