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GD Culture Group Limited Expands Grids of the Future Portfolio with TikTok to Drive Growth of Live-Streaming E-Commerce Business Segment
NEW YORK, Aug. 28, 2023 (GLOBE NEWSWIRE) -- GD Culture Group Limited (“GDC” or the “Company”), a holding company currently conducting business through
About this update from Gd Culture Group Limited
[{"type":"text","content":"NEW YORK, Aug. 28, 2023 (GLOBE NEWSWIRE) -- GD Culture Group Limited (“GDC” or the “Company”), a holding company currently conducting business through Shanghai Highlight Media Co., Ltd. and AI Catalysis Corp. (“AI Catalysis”) today announced the launch of live-streaming e-commerce business on TikTok, a popular social media platform mostly based on entertainment. AI Catalysis expects to expand grids of the future portfolio on TikTok to drive growth of live-streaming e-commerce business segment. By fusing entertainment and online shopping, TikTok’s live-streaming e-commerce is well on its path to reshaping the e-commerce landscape worldwide. According to Business of Apps, TikTok generated an estimated $9.4 billion in revenue in 2022, a 100% year-on-year increase, and 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. AI Catalysis aims to capture the essence of this popular trend of TikTok. It emphasizes curated product offerings and ensures seamless delivery, aiming to redefine the online shopping experience. The assortment of products, coupled with real-time interaction, is anticipated to strike a chord with a vast consumer base. Mr. Xiaojian Wang, Chairman and Chief Executive Officer of the Company, commented, “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.” About GD Culture Group Limited GD Culture Group Limited (“GDC” or the “Company”) is a holding company currently conducting business through Shanghai Highlight Media Co., Ltd. (“Highlight Media”) and AI Catalysis Corp. (“AI Catalysis”). Highlight Media, founded in 2016, is an integrated marketing service agency, focusing on serving businesses in China in connection with brand management, image building, public relations, social media management and event planning. AI Catalysis plans to enter into the livestreaming market with focus on e-commerce and livestreaming interactive games. For more information, please visit the Company's website at https://www.gdculturegroup.com/. Forward-Looking Statements This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Re...