TikTok Eyes $17.5 Billion Shopping Business on Amazon’s Turf

TikTok Shop seeks to significantly grow size of US business
ByteDance’s video app is fast expanding beyond advertising

WATCH: Bloomberg has learned that TikTok aims to grow the size of its US e-commerce business tenfold to as much as $17.5 billion. Alex Barinka reports.Source: Bloomberg

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By Zheping Huang, Alex Barinka, Dong Cao, and Olivia Poh

January 3, 2024 at 11:03 PM UTC

Updated on

January 4, 2024 at 12:30 AM UTC

This article is for subscribers only.

ByteDance Ltd.’s TikTok aims to grow the size of its US e-commerce business tenfold to as much as $17.5 billion this year, according to people familiar with the matter, posing a bigger threat to Amazon.com Inc.

The 2024 merchandise volume goal for the US version of TikTok Shop — which melds online entertainment with impulse buying — was discussed in internal meetings in recent weeks and may still change depending on how the business goes, said the people, who asked not to be named discussing private information.