BEIJING - Just six months ago, TikTok, the short-video app owned by Beijing-based ByteDance, was charging headlong into the US e-commerce market. From September through December, nearly US$1.2 billion of goods were sold on the platform used by 170 million Americans. This year, the app aims to generate as much as US$20 billion in gross merchandise volume (GMV) in the world’s biggest consumer market.
That goal is now threatened by legislation passed March 13 by the US House of Representatives and is pending in the Senate that would force the parent company to sell TikTok within 180 days or face a nationwide ban.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
