TikTok’s turnover grew by 545% in Europe last year — but losses are mounting

By CreatorStack · 19 days ago
  • TikTok’s turnover in Europe grew 545% to $170.8 million last year as advertisers upped their spending on the platform, according to a filing with the U.K.’s company registry on Monday.
  • Losses at the Chinese-owned firm soared from $118.7 million in 2019 to $644.3 million in 2020.
  • Staff have been one of TikTok’s biggest expenses. The company’s headcount in Europe rose by over 1,000 people last year, going from 208 in 2019 to 1,294 in 2020.