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.
Alibaba Group Holding Ltd. reported fourth-quarter revenue that missed expectations, as Chinese consumer spending has gained some momentum but remains relatively muted amid a wobbly economic recovery. The company plans to restructure into six units, a move that follows a two-year regulatory crackdown on China's tech sector. Net income attributable to ordinary shareholders was 23.52 billion yuan, compared with a loss of 16.24 billion yuan. Revenue for the full year climbed 2% to 868.
The move comes months after Alibaba's logistics arm, Cainiao, opened a central hub for European sales in Belgium.
Canadian e-commerce company Shopify said Tuesday that businesses will be able to add a shopping tab to their TikTok profiles to create a "mini-storefront" that links directly to their online store for checkout.
"The TikTok community enjoyed shopping while engaging with their favourite creators. During the event, we netted 7X more views than anticipated and grew our TikTok followers by 25 per cent," William White, Chief Marketing Officer, Walmart U.S., said in a statement.
Oracle will take a 12.5% stake in TikTok Global and store all its U.S. user data on its cloud to comply with U.S. national security requirements, the companies said earlier. Retail giant Walmart said it would take a 7.5% stake in TikTok Global.
After Microsoft said it had been informed by ByteDance that the Chinese firm would not be selling it TikTok's U.S. operations, Walmart said it would talk further with ByteDance and "other interested parties."
Walmart, which pitched its ad business to large consumer goods companies and advertising firms for the first time last year, said on Thursday it was "confident" it could meet U.S. TikTok users' expectations and satisfy U.S. regulators' concerns.
Asked at a news conference whether there were other particular China-owned companies he was considering a ban on, such as Alibaba, Trump replied: "Well, we're looking at other things, yes."
In many ways, TikTok’s situation is similar to the public relations frenzy over Zoom Video Communications Inc. in early April. At the time, the video-conferencing company — whose service had seen an unprecedented surge from business customers and other entities looking to connect under lockdown — faced an avalanche of scrutiny over its security and privacy practices, including its use of Chinese servers. In
The notice said employees must delete the app by Friday to keep access to Amazon email.Workers would still be allowed to use TikTok from an Amazon laptop browser.
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