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.