Temu, a Chinese cross-border e-commerce app, which is popular in the US currently could benefit if TikTok is banned, said an analyst.
FILE PHOTO: The TikTok app logo is seen in this illustration taken August 22, 2022. REUTERS/Dado Ruvic/Illustration/File Photo, the video-sharing app’s Chinese owner ByteDance might choose to focus more resources on Southeast Asia, where it has more than 325 million monthly users, an observer said on Thursday .
“Currently, most of the Southeast Asian countries will try to stay out of geopolitics, so I do think that from a regulatory point of view, TikTok would probably not face the same challenge as they are facing in the US,” he said.TikTok has been growing its TikTok shop function, which is a direct competitor of Temu, he noted.
With TikTok valued at US$50 billion or more, it may take a consortium of companies to buy it over, he told CNA’s Asia First.