TECH - TikTok Halts European Expansion To Focus On US E-Commerce | Benzinga
ByteDance-owned TikTok has paused plans to expand its e-commerce platform in major European markets, shifting its focus to growth in the U.S. amid regulatory challenges.
According to a Bloomberg report, the decision affects the planned rollouts in Spain, Germany, Italy, France, and Ireland, initially set for July, as well as in Mexico and Brazil.
The move aims to solidify ByteDance's position in the U.S., which boasts 170 million monthly users, to counter a potential ban in the region.
Concerns over the U.S. divest-or-ban law have deterred some merchants from joining the platform.
TikTok aims to tenfold its U.S. merchandise volume to $17.5 billion this year. However, an extensive European expansion ...