TikTok looks to take on Amazon in US, eyes $17.5 billion shopping business in 2024

ByteDance Ltd.’s TikTok aims to grow the size of its US ecommerce business tenfold to as much as $17.5 billion this year, according to people familiar with the matter, posing a bigger threat to Amazon.com Inc.

The 2024 merchandise volume goal for the US version of TikTok Shop — which melds online entertainment with impulse buying — was discussed in internal meetings in recent weeks and may still change depending on how the business goes, said the people, who asked not to be named discussing private information.