GD Culture Group Ltd GDC shares are skyrocketing after it announced the launch of live-streaming e-commerce business on TikTok, a popular social media platform.
GD Culture is a holding company currently conducting business through Shanghai Highlight Media Co Ltd. and AI Catalysis Corp (AI Catalysis). Highlight Media, founded in 2016, is an integrated marketing service agency, focusing on serving businesses in China.
AI Catalysis expects to expand grids of the future portfolio on TikTok to drive growth of the live-streaming e-commerce business segment.
By fusing entertainment and online shopping, TikTok's live-streaming e-commerce is reshaping the e-commerce landscape worldwide.
According to Business of Apps, TikTok had 1.4 billion monthly active users in 2022 and is expected to reach 1.8 billion by the end of 2023. TikTok is now available to over 155 markets and in 75 languages.
"The global e-commerce paradigm is shifting. With our TikTok live-streaming initiative, GDC aspires to not only be a part of this evolution but to be a leading voice in it," said Chairman and CEO Xiaojian Wang.
Price Action: GDC shares are trading higher by 81.8% at $4.62 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
