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Short video app TikTok is in the process of obtaining an e-commerce permit from Indonesia's government, state news agency Antara reported, citing the deputy trade minister. In September, Indonesia banned e-commerce transactions on social media, a major blow for TikTok, which had pledged to invest billions of dollars in Southeast Asia, including Indonesia, the region's biggest economy. "Before, they (TikTok) were not compliant, they didn't have the permit . Now they are taking care of it," Deputy Trade Minister Jerry Sambuaga was quoted saying by Antara on Tuesday. He said a partnership with a local firm could be done providing it was in accordance with regulations. TikTok, owned by China's ByteDance, has 125 million active monthly users in Indonesia, a country of more than 270 million people. It has been looking to translate the large user base into a major e-commerce revenue source. TikTok did not immediately respond to requests for com...

ByteDance-owned TikTok hopes to more than quadruple the size of its worldwide e-commerce operations to as much as $20 billion in merchandise sales this year, relying on growth in Southeast Asia, Bloomberg News reported on Wednesday, citing people familiar with the matter. The increase compares to last year’s $4.4 billion in gross merchandise value, representing the worth of total goods sold through its online marketplace TikTok Shop, the report said, adding that the company is betting on markets such as Indonesia. TikTok did not immediately respond to a Reuters request for comment. TikTok's e-commerce platform lets customers purchase goods through links on the app during live broadcasts. The development comes as the Chinese-owned company faces scrutiny from governments and regulators because of concerns that China could use the app to harvest user data or advance its interests. The company is also working to expand its sales in the US and Europe, the report s...