On the bustling streets of Bangkok, TikTok Shop’s Singles’ Day shopping campaign is hard to miss, as large LED screens flash promotions in endless loops. Promotions have been infiltrating people’s lives in other ways, as well. On the ride-hailing app Grab, TikTok Shop’s Double 11 logo appears prominently on the map interface. A promotional blitz … Read more
Lazada, the Southeast Asian online shopping platform of Alibaba Group Holding, has achieved a monthly profit for the first time, according to an internal announcement. In an announcement during the firm’s town hall meeting on Tuesday, Singapore-based Lazada was said to have recorded positive earnings before interest, taxes, depreciation and amortisation (Ebitda) – an alternate … Read more
TikTok, the global hit short video platform owned by ByteDance, is set to jump into Southeast Asia’s local services sector, initially enabling users in Indonesia and Thailand to obtain vouchers for restaurants, flights and hotels via links on their feeds. Restaurants owners and merchants in those two countries are being encouraged to join the social … Read more
The reductions, equal to about 9 per cent of employees at the Indonesian unit, will commence as soon as this month, according to people familiar with the matter. The final number is under discussion and could fluctuate as conditions change, the people said. Indonesia is among the earliest markets for ByteDance’s e-commerce ambitions – and … Read more
Shares in GoTo, whose business includes ride-hailing, delivery and financial services, tumbled 8.3 per cent after the announcement, as some investors took profit from the stock’s recent rally on expectations of a deal with TikTok. A billboard advertising GoTo’s initial public offering in Jakarta, Indonesia in 2022. . Photo: Bloomberg “We need to see what … Read more
