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Report: TikTok Plans to Quadruple Its eCommerce Network – PYMNTS.com

TikTok is reportedly looking to Southeast Asia to massively expand its eCommerce business.The Chinese social media platform aims to grow its eCommerce sales from $4.4 billion in gross merchandise value to $20 billion, Bloomberg News reported Wednesday (June 7), citing sources familiar with the matter.The report says the company is banking on markets like Indonesia, where influencer videos are popular with consumers. The sources say TikTok is also hoping to expand its American and European sales, although these markets would account for a smaller fraction of its goal.PYMNTS has reached out to TikTok for comment but has not yet received a reply.As… 

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