TikTok gives rare look into its UK business with US$119.5m loss

📆 2020/12/26 1:05:00
📰 BusinessTimes

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[BEIJING] TikTok's UK business recorded a US$119.5 million loss over 2019, driven by advertising and marketing expenses, giving a rare insight into how rapidly the video-sharing app is expanding. Read more at The Business Times.

Over the space of a few years, TikTok has become one of the most popular apps in the world, especially among teens.

At the end of 2018, TikTok had just a handful of staff in the UK. The app has since been rapidly expanding, hiring hundreds of employees from social media rivals, and has considered making London its international headquarters."As of today, the TikTok community numbers over 100 million people across the UK and Europe and we're excited about our future growth potential," said a TikTok spokesperson.

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