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TikTok’s turnover grew with 545% last year

TikTok’s turnover in Europe grew 545% to $170.8 million last year as advertisers upped their spending on the platform. 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.

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