This post is also available in:
简体中文 (Chinese)
According to Bloomberg, TikTok’s total global merchandise value is expected to reach about $20 billion last year, with Southeast Asia contributing most of the sales through its platform. The company is currently looking to expand sales in the U.S. and Latin America, and plans to launch an e-commerce business in the coming months, according to two people familiar with the matter. It is reported that ByteDance’s revenue soared by about 30% in 2023 to more than $110 billion, outpacing the projected growth rate of more established social media rivals Meta Platforms and Tencent Holdings.
(Source: BusinessTimes Image source: freepik)
