TikTok’s CEO Shou Zi Chew, the short-form video app expects to invest billions of dollars in Southeast Asia over the coming years.
TikTok invest in Southeast Asia: Chew stated during an event in Indonesia that TikTok’s content is diversifying as it gains more users and enters the e-commerce market. ByteDance of China owns TikTok.
In terms of user numbers, Southeast Asia is one of TikTok’s largest markets. The site is up against intense competition from larger rivals like Sea’s Shopee, Alibaba’s Lazada, and GoTo’s Tokopedia, so it hasn’t yet been able to convert its sizable user base into a significant e-commerce revenue source.
Without going into further detail, Chew stated that TikTok has 2 million small traders selling their items on its site and 8,000 employees in Southeast Asia.
Legislators and state officials in the US are calling for a statewide ban on TikTok due to alleged Chinese government influence over the network. A bipartisan group of six senators and two representatives from the House recently filed legislation to the prevent US adversaries from using Americans’ data.
The bill tries to allay worries about American users’ data on foreign-owned social media platforms like TikTok. Democratic Senator Ron Wyden, who chairs the Senate Finance Committee, claimed that the legislation “would turn off the tap of data to unfriendly nations, stop TikTok from sending Americans’ personal information to China, and allow nations with strong privacy protections to strengthen their relationships.”