On Thursday, TikTok CEO Shou Zi Chew announced the company would invest billions in Southeast Asia over the next few years.
Chew told an Indonesian gathering that TikTok’s content diversifies as it gains subscribers and enters e-commerce. ByteDance owns TikTok.
Southeast Asia is TikTok’s largest user base. The site confronts tough competition from Sea’s (SE.N) Shopee, Alibaba’s (9988. HK) Lazada, and GoTo’s (GOTO.JK) Tokopedia.
TikTok’s live-streaming e-commerce platform allows users to buy products through links.
Chew claimed TikTok has 8,000 Southeast Asian employees and 2 million small vendors selling on its site.
