TikTok looking to challenge Amazon with global warehouse network
TikTok surpassed 1B monthly active users globally in September 2021
Brands promoted on TikTok 'more relevant' to younger consumers: Larry Cheng
GameStop board member Larry Cheng predicts a 'better than expected' holiday shopping season.
After establishing itself as a competitor to social media giants like Facebook and Twitter, TikTok is now setting its sights on e-commerce behemoth Amazon, new job postings suggest.
In one posting for an operation research engineer, listed duties include "building a global logistic and warehousing network." In another posting looking for a logistics solution manager, the description notes that the role would be responsible for the "planning and solution design of fulfillment centres."
"We are looking for passionate and talented people to join our global fulfillment centre team, together we can build an e-commerce ecosystem that is innovative, secure and intuitive for our users," the posting reads.
The roles are based in Seattle, where Amazon's headquarters is located. A spokesperson for TikTok did not return FOX Business' request for comment.
TIKTOK PARENT BYTEDANCE SEES LOSSES SWELL IN PUSH FOR GROWTH
The Chinese-owned short-form video platform, which surpassed 1 billion monthly active users globally in September 2021, currently operates a TikTok Shop that is available for sellers in the U.K. and Southeast Asia.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SHOP | SHOPIFY INC. | 110.81 | -4.32 | -3.75% |
In August 2021, TikTok began piloting an in-app shopping feature in the U.S. and U.K. in partnership with Shopify. At the time, Shopify said that the pilot would also expand to Canada.
CLICK HERE TO READ MORE ON FOX BUSINESS
During the second quarter, Amazon reported net sales of $121.2 billion, up 7% compared with $113.1 billion in the same quarter a year ago. However, the company posted a net loss of $2 billion, or 20 cents per diluted share, compared with net income of $7.8 million, or 76 cents per diluted share, a year ago
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 212.53 | -1.57 | -0.74% |
In the second quarter of 2022, e-commerce sales totaled $257.3 billion on an adjusted basis, up 2.7% from the prior quarter and 6.8% from the same quarter last year, according to the Census Bureau. E-commerce sales accounted for 14.5% of overall retail sales for the quarter.
