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Report: Social Commerce Market Reaches $89B

PYMNTS

Regardless of what happens with the sale of TikTok, social commerce could become a retail factor to reckon with in Q4, and is definitely ready for its close-up in 2021. In fact a new report puts the global market for social commerce at $89.4 billion by 2027, growing at a CAGR of 31.4

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Location, Location, Location: Google Maps Get Birthday Upgrade

PYMNTS

Google Maps is getting a makeover and retailers will be a beneficiary as it enables more location sharing, data access and social media integration. billion by 2027. Along with a new logo for its 15th birthday, the Google Maps app has stepped up its navigation features, according to reports.

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TikTok Doubles Sales To $35 Billion Despite Bans, Layoffs

PYMNTS

Chinese social media app TikTok — the world’s biggest startup — grew operating profit to $7 billion after parent company ByteDance saw revenue at about $35 billion last year, Bloomberg reported. Some 58 additional Chinese apps were also banned by India’s Ministry of Electronics and Information Technology. “It billion by 2027.