The platform has yet to translate the large user base into a major e-commerce revenue source in the region as it faces fierce competition from bigger rivals.
TikTok has 8,000 employees in Southeast Asia, and 2 million small vendors selling their wares on its platform in Indonesia, the region's biggest economy, he added.
TikTok facilitated $4.4 billion of transactions across Southeast Asia last year, up from $600 million in 2021, but it still trailed far behind Shopee's $48 billion of regional merchandise sales in 2022, Momentum Works said. Countries including Britain and New Zealand have banned the app on government phones, moves TikTok said it believed were based on "fundamental misconceptions" and driven by wider geopolitics.
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