Tag: bytedance

TikTok’s UK Subsidiary Files Company Financials / Revenues for Europe, UK, Latin America and Africa

TikTok’s UK subsidiary has published its latest financial results covering operations in Europe, the UK, Latin America and Africa. The report shows revenue growth of 38% to $6.31bn in 2024, while the company significantly reduced its operating losses from $1.37bn in 2023 to $484.6m last year.

Filed with Companies House in the UK, these results primarily address financial performance rather than user statistics. However, earlier this year TikTok separately disclosed user numbers for the European Union. The platform reached 159 million monthly active users across the EU by the end of 2024, with its largest markets being France (25.1 million), Germany (24.2 million), Italy (22.8 million) and Spain (21.9 million).

Fidelity Investments Slashing Valuations on Reddit, Stripe, Bytedance and Instacart

It seems like private market valuations for startups are getting slashed because of overall economic outlooks. In the past few months we have seen heavy declines in the public markets and now the private markets are following behind.

Fidelity Investments is cutting some of its portfolio company valuations.

  • Reddit valuation is down by more than a third.
  • Stripe valuation is down by about 13%
  • Bytedance valuation is down by 13%
  • Instacart is valued at half of its value from last year.

These are only private valuations inside of Fidelity and this was back in April – so its expected that these valuations have dropped even more since then.

It’s a tough time economically for everyone!