TikTok gives a rare look into UK business with $119mn loss ...Qatar

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TikTok gives a rare look into UK business with $119mn loss
TikTok’s UK business recorded a $119.5mn loss over 2019, driven by advertising and marketing expenses, giving a rare insight into how rapidly the video-sharing app is expanding. ByteDance Ltd, its Chinese parent company, has not disclosed global revenue figures, but UK sales amounted to $20mn over 2019, according to the latest company filings made this week. Sales and marketing expenses came to $109mn over the year. The unit hadn’t begun posting revenue in 2018. By comparison, ByteDance is said to have generated over $3bn of profit on more than $17bn of revenue in 2019, Bloomberg News has reported. It’s already worth $140bn, according to startup tracker CB Insights. Over the space of a few

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