Temu

TikTok restarts e-commerce in Indonesia with US$1.5 billion investment in GoTo Gojek Tokopedia unit

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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

Chinese budget e-commerce app Temu is snatching business from US dollar stores ahead of lucrative holiday season

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Temu, the fast-growing Chinese e-commerce platform selling US$4 home decor and US$10 shirts, is successfully taking on US dollar stores including industry leader Dollar General, according to the latest market share data. As of last month, Temu accounted for nearly 17 per cent of market share in the United States within the discount stores categories, … Read more