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Tag: tik tok

  • SEA driving $20 bn in e-commerce revenue for TikTok

    SEA driving $20 bn in e-commerce revenue for TikTok

    ByteDance-owned TikTok hopes to more than quadruple the size of its worldwide e-commerce operations to as much as $20 billion in merchandise sales this year, relying on growth in Southeast Asia, Bloomberg News reported on Wednesday, citing people familiar with the matter.

    The increase compares to last year’s $4.4 billion in gross merchandise value, representing the worth of total goods sold through its online marketplace TikTok Shop, the report said, adding that the company is betting on markets such as Indonesia.

    TikTok’s e-commerce platform lets customers purchase goods through links on the app during live broadcasts.

    The development comes as the Chinese-owned company faces scrutiny from governments and regulators because of concerns that China could use the app to harvest user data or advance its interests.

    The report said the company is also working to expand its sales in the US and Europe.

    Financial Times had last year reported that TikTok is due to enter a partnership with Los Angeles-based TalkShopLive to launch its live shopping platform in North America by outsourcing its operations.

  • Reddit could introduce a TikTok-like video feature

    Reddit could introduce a TikTok-like video feature

    Reddit is allegedly thinking of introducing a TikTok-like video feature. As TechCrunch first reported, Reddit is “exploring the idea” of introducing TikTok-like video editing tools with the option for Redditors to react to videos uploaded on the platform. The feature will be similar to TikTok’s Duet and Stitch features.

    If you are not much of a TikTok user and don’t know what the Duet and Stitch features are, Duet allows you to play your video alongside someone else’s, while Stitch allows you to incorporate up to 5 seconds of another person’s video into your own.

    But the goal of this possible TikTok-like video feature won’t be for Reddit to become a TikTok competitor. According to the report, Reddit is considering implementing such a feature only to provide a better way for Redditors to further participate in discussions that they are passionate about.

    It must be noted that, at the moment, Reddit is only thinking about implementing this TikTok-like video feature, but the company hasn’t yet begun working on it. Before deciding if the feature is worth it or not, Reddit will ask users in various subreddits, which are different online communities on the platform, to determine if such a tool would be interesting and beneficial to them.

    According to the report, Reddit will specifically ask subreddits where it thinks that the video feature would be most beneficial to them. However, it should be noted that community testing has not yet started.

    A Reddit spokesperson told TechCrunch, “In line with our work to help people engage in the topics that matter to them through social audio, video, text, memes, and more, we’re in the process of reaching out to a few Reddit communities to see if a new video feature we’re working on is something they find useful and fun.”

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