Video-sharing app TikTok will invest “billions of dollars” in small and medium-sized enterprises (SMEs) in Southeast Asia over the next few years as it seeks to expand its functions beyond entertainment in its quest to become a relevant business tool in the region.
Efforts are already underway to expand the use of TikTok, chief executive Chew Shou Zi says. The app has provided a platform for more than 15 million small businesses in Southeast Asia.
Mr Chew said that part of the investment will be US$12.2 million (S$16.4 million) supporting more than 120,000 SMEs, entrepreneurs, and young people over the next three years.
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