SINGAPORE -- Singapore-based tech group Sea will "ramp up" investments in its online shopping business across all markets, the company said Tuesday, as the largest Southeast Asian player faces increasing competition in the region from new rivals like TikTok.
TikTok, the short video platform owned by Chinese tech giant ByteDance, launched online shopping service TikTok Shop in 2021, starting in Indonesia. TikTok Shop has expanded into other regional markets, where Sea e-commerce unit Shopee, Alibaba-owned Lazada and Indonesia's Tokopedia have dominated.
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