ByteDance’s TikTok is seeking to grow its U.S. ecommerce business tenfold to roughly $17.5B in 2024, posing a greater threat to Amazon, Bloomberg’s Zheping Huang, Alex Barinka, Dong Cao, and Olivia Poh report, citing people familiar with the matter. The company discussed the 2024 merchandise volume goal for the U.S. version of TikTok Shop in internal meetings recently, the authors note.
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