Following its meteoric rise in Southeast Asia, ByteDance-owned TikTok is planning to invest billions of dollars in the region over the next few years, its CEO Shou Zi Chew said on Thursday.
“I am delighted to announce that we are going to invest billions of dollars in Indonesia and Southeast Asia over the next few years,” Chew said at an event in Jakarta, Indonesia. “This commitment includes a $12.2-million investment to support more than 120,000 small and medium-sized businesses to support entrepreneurs … over the next three years.”