Block’s Cash App, the payment company’s consumer-facing unit, ended the year with 51 million active users, a 16% increase from 2021. Gross profit for Block’s Cash App unit rose 64% in the fourth quarter to $848 million from the same period a year earlier, helped by more revenue from consumers using cards and other financial products beyond Cash App’s peer-to-peer payments offering. It was the...
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Data Show TikTok Shop Relies on Indonesia, Where Business Is Threatened
TikTok just cannot escape government scrutiny. Even as the hugely popular ByteDance-owned app expands in the U.S. despite a persistent threat of a ban, the Indonesian government has decided on a new regulation to ban online shopping on social media. That would hobble TikTok’s fast-growing shopping service in Indonesia, which is the single biggest market for TikTok Shop, as the service is...
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