On April 20, TikTok e-commerce data service platform DidaDog announced the completion of CNY tens of million yuan in Pre-A round financing.
DidaDog,the third-party platform, founded in early 2020 in Xiamen, Fujian province, specializes in TikTok e-commerce data services. Using artificial intelligence-based data processing capabilities, the company collects demands from cross-border sellers for overseas short video sales, empowering sellers through sharing user social data, TikTok Shop sales data, TikTok advertising data, and more. This helps these sellers increase their efficiency in product selection, improve their traffic, and promote sales growth.
DidaDog also provides operational services for TikTok e-commerce sellers in Indonesia and the Philippines, having previously provided operational services for Filipino B2C personal care brand Metoo. Additionally, the company has launched paid membership and paid community services, with thousands of paid members already subscribed.
According to EqualOcean, the DidaDog platform has attracted nearly 100,000 registered users, with over 50% of them coming from the European and American markets, primarily Amazon platforms, and over 30% coming from Southeast Asian cross-border e-commerce practitioners. The remaining 10% are cross-border e-commerce practitioners operating independent or self-built sites. DidaDog's own e-commerce sales on TikTok have also reached nearly 2 million.
The FastData Research Institute's "2022 TikTok Ecological Development White Paper" reports that TikTok's monthly active users have exceeded 1 billion and are still growing rapidly. The report predicts that the 2022 TikTok live streaming sales volume will surpass USD 4.4 billion, doubling year-over-year. In terms of sales, the Southeast Asian market is showing promising performance. In 2022, the top three global sales of TikTok Shop came from Southeast Asian countries such as Indonesia and Vietnam. In terms of product categories, the featured small stores mainly focus on beauty and personal care, women's underwear, and bags and suitcases. TikTok Shop's live streaming business, relying on the world's largest short video platform, is becoming a battleground for capital.
As a battleground for beauty and personal care products, the Southeast Asian market has all the advantages and resources required for competition: a large number of young consumers, a booming economic situation, and a live shopping industry that has not yet reached saturation. For future development plans, DidaDog founder Victor Yang stated that the company will continue to strengthen its in-depth exploration of TikTok data and improve platform services to promote it to overseas users. Meanwhile, the company plans to complete a comprehensive operational layout in the mainstream six Southeast Asian countries within the next 1-2 years.
In the short video live shopping market, TikTok Shop faces numerous opponents. Platforms such as Instagram, Youtube, Amazon Live, and Facebook Live have all launched short video live shopping businesses based on their social platforms, presenting a considerable challenge to TikTok Shop's further growth.
The financing for DidaDog was invested by OXYZ Seafirst Capital, with BridgeSEA Capital serving as the exclusive financial advisor. The financing will mainly focus on the construction of the DidaDog platform and the optimization of operational services in Southeast Asia.
At this critical stage, the ESG2023 "the US Sub-Forum" will be held in Shenzhen on June 2, 2023. EqualOcean will invite the representatives of academic institutions and investment institutions, as well as company leaders, from the International Studies Institute of Fudan University, Sun Yat-sen University, Jinan University School of International Relations, Gaorong Capital, Vision Plus Capital, FreeS Fund, ZWC Partners, Source Code Capital, Niu Technologies, TikTok, SHEIN, NEIWAI, miHoYo, Tuya, MINISO, Dreame, Ecovacs, WYBOTICS, Lifen, and UniUni.EqualOcean analysts will also release the US Report 2023 at the US Sub-Forum, summarizing business opportunities and best practices for expanding into the US market in the new stage. Click the link to apply and scan the QR code below to learn more about ESG2023.