TikTok to spend billions in South-East Asia as ecommerce move pays off

‘We’re going to invest billions of dollars in Indonesia and South-East Asia over the next few years,’ Chew told a forum in Indonesian capital Jakarta. — Reuters

JAKARTA: TikTok’s chief executive said June 15 the company would pour billions of dollars into South-East Asia in the coming years, as a report showed its nascent venture into online shopping is paying off.

The popular video-sharing app’s ecommerce affiliate has gained a substantial market share in the region just a year after its launch.