TikTok's Southeast Asia ambitions to take a major hit with Indonesia ban
Publishing timestamp: 2023-09-29 02:29:29
Summary
Indonesia has given TikTok a one-week deadline to become a standalone app without any e-commerce features or face closure in the country. The ban on e-commerce transactions on social media platforms like TikTok Shop and Facebook will negatively impact TikTok's Southeast Asian ambitions. The move is seen as a response to concerns about TikTok's ownership structure and ties to China. Existing e-commerce players like Shopee and GoTo are expected to benefit from the regulation.
Sentiment: MIXED
Keywords: social media, internet, business news, breaking news: technology, asia economy, meta platforms inc, technology, indonesia,