TikTok, the Chinese-origin social network, has experienced continuous growth since its inception in 2016, becoming the most powerful platform globally and a favorite among Peruvians. In 2023, the Chinese giant reported revenues of $16.1 billion, a 67% increase from the previous year, and reached 1.5 billion active users, according to ByteDance and the TikTok report by specialized firm Business of Apps. In Peru, TikTok has approximately 17 million users, according to Statista.
This context set the stage for Shou Chew’s highly anticipated appearance at the APEC CEO Summit 2024. During his keynote address, which opened the event, the executive delved into the platform’s economic impact on businesses, data security, user protection, and its commitments in a rapidly changing world.
Chew emphasized that trust is central to TikTok’s operations as a company, platform, and corporate entity. “That’s why we do everything we can to become one of the safest companies in the world—recognized for doing the right thing, earning faith in our integrity, actions, and support for our global community,” he stated.
Strengthening Data Security and User Protection
Chew highlighted the company’s multifaceted approach to building trust, starting with transparency and a commitment to resolving security issues. “Data security is an area where TikTok collaborates with global experts to find solutions,” he explained. A significant focus is on protecting younger users online. Chew expressed pride in the platform’s safeguards, which restrict access for children under 13 and impose limitations for users under 17.
“We are committed to providing a safe experience by keeping inappropriate content off our platform. Misinformation, manipulation, or content promoting hate has no place on TikTok. We actively and aggressively combat such material in every form,” the CEO stated in Lima. Over the past three months, TikTok removed 135 million videos that violated its policies, 77% of which were taken down before any user could view them. Chew emphasized the importance of continuing proactive measures to protect the community and private information.
“The security of user information is non-negotiable and drives TikTok to the forefront of innovation. Leaders in the private sector are also prioritizing online security. For us, maintaining public trust is imperative and represents a competitive advantage in providing the best protection in social media,” he noted.
At the APEC CEO Summit 2024, Chew revealed that TikTok has invested $1.5 billion to secure the data of its North American community and is preparing for additional investments to safeguard user information in Europe. “Data regulations are evolving across regions, serving as a foundation to protect our community and deliver tools that foster creativity while ensuring a safe online experience for all,” he said.
“The security of user information is non-negotiable”
This commitment is critical, Chew remarked, as more than a billion people trust TikTok with their futures, relying on the platform to uphold their values, protect their data, and champion freedom of expression. “We will continue to build on this foundation,” he affirmed.
TikTok’s Economic Impact on Businesses
Chew underscored TikTok’s role as a vital platform for humanity, providing real-world solutions. “TikTok fosters creativity and freedom of expression in a safe environment, generating economic opportunities that can transform lives. Every day, more entrepreneurs join the platform to launch ideas and build businesses,” he noted.
In Southeast Asia, over 50 million businesses are using TikTok to showcase products and increase revenue by as much as 50%, according to Chew. He added that five million small and medium-sized enterprises rely on TikTok daily for sales, creating a community that supports 350,000 jobs in North America and contributes $12.5 billion to the U.S. GDP.
“Economic success on TikTok is unique and individual to each user,” he said.
Chew highlighted the story of Paola Gallegos, a Peruvian content creator who leveraged TikTok to transition into a teaching role, amassing nine million followers. Her success was even recognized by The New York Times. TikTok also supports numerous creators and entrepreneurs from the Asia-Pacific region and Latin America.
“The key to engaging with TikTok’s community is authenticity—it is the foundation of our platform, making us relevant to everyday life. Our algorithm offers recommendations that help users discover new interests, perspectives, and talents, creating opportunities for content creators to reach audiences,” Chew explained.
Additionally, Chew noted TikTok’s commitment to environmental sustainability. The company’s new data center in Norway, powered by renewable energy, will not only enhance data privacy for European users but also reduce TikTok’s carbon footprint.
As CEO, Chew sees his role as ensuring public trust and driving positive global impact on creativity, freedom of expression, and innovation.
