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TikTok Parent ByteDance records $7Bn in losses in 2021
source link: https://nextbigwhat.com/tiktok-parent-bytedance-records-7bn-in-losses-in-2021/
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TikTok Parent ByteDance records $7Bn in losses in 2021
TikTok parent ByteDance Ltd. saw its operating losses more than triple last year to above $7 billion as it spent heavily to continue its torrid growth.
ByteDance also produced an operating profit in the first quarter of 2022, the report showed, indicating one of the world’s most valuable startups could be turning a corner after years of incurring large losses.
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