TikTok, I Sea you
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Daphne Yow
THE e-commerce scene seems to be heating up, with players such as TikTok Shop aiming to increase the size of its global e-commerce business by more than four times – to US$20 billion in merchandise sales – this year.
Industry incumbent Shopee has been quiet about the threat so far. But last Friday, Forrest Li, CEO of parent company Sea, sent a company-wide memo about the challenge ahead.
Li warned of the increasingly competitive landscape, and reminded staff that a “hard contest” is where the company has always thrived, according to the email seen by Garage.
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