ByteDance’s short-video platform Douyin reached RMB 22 billion ($3.28 billion) in gross merchandise volume (GMV) for the first half of 2022, surpassing a goal for the year of RMB 20 billion and eclipsing figures from the entirety of 2021, according to Chinese media outlet 36Kr. The platform saw a GMV of RMB 10 billion in the first quarter. The fast growth is thanks to Douyin’s quick expansion in offering local services across Chinese cities, including directing short-video audiences to make purchases from businesses such as online grocery stores and flower shops. The platform has been expanding its life services teams in 33 cities in regions such as Hubei, Henan, Sichuan, Chongqing, and Yunnan. The platform expects to reach 50 to 55 cities by the end of this year. [36Kr, in Chinese]
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