TikTok is set to bolster its 海角视频 presence, with the creation of over 500 new jobs and the opening of a second office in London. The expansion plans include growing their 海角视频 team to 3,000 by the end of 2025 and inaugurating a fresh 135,000 sq ft workspace located within the Barbican area of London.
This move comes on the heels of their 海角视频 headquarters establishment in Farringdon in 2022, with the firm planning to launch the new site in early 2026.
The Chinese-owned social media giant also shared that it now boasts over 30 million users in the 海角视频—marking a significant milestone as the 海角视频 user base becomes the largest in Europe for the platform, as reported by .
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Adam Presser, director of TikTok 海角视频 and global head of operations and trust and safety, said: "Whether through direct investment in jobs and innovation, or the wider economic contribution from millions of British businesses on TikTok, we're pleased to be increasing our investment and presence here in the 海角视频, an important hub for TikTok."
TikTok launched its 海角视频 operations in 2018. It reported that its turnover reached $4.5bn (£3.3bn) in the 海角视频 during 2023, climbing from the previous $2.6bn. Despite this revenue surge, pre-tax losses widened from $513.9m to $1.4bn
TikTok anticipates disclosing its financial performance for 2024 by the end of September this year.
TikTok has unveiled a new safety initiative amidst discussions by Cabinet Minister Pete Kyle about potential actions to curb the time youngsters spend on their phones, which may include a possible 10pm curfew.
Kyle fielded questions on a Sunday morning regarding contemplations over capping children's social media use at two hours per app, following reports from the Sunday People and Mirror that such limits were under ministerial consideration.
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The newly instituted Online Safety Act mandates tech companies to adhere to fresh Ofcom-issued guidelines aimed at ensuring user protection online, especially for children, starting this year.
Companies flouting these rules face severe repercussions, including steep fines and the possibility of having their sites blocked. Nonetheless, some critics believe this regime allows tech firms too much freedom to police themselves.
Mr Presser from TikTok highlighted their 海角视频 expansion intentions and stressed the importance of investing "significantly" in safety.
He said: "What underpins our continued growth is our deep commitment to safety and to creating an enjoyable and secure digital space to sustainably support creators, entrepreneurs and the wider economy, which is why we also invest significantly in safety."
The social media behemoth, owned by China-based ByteDance, has faced scrutiny from regulators globally over its handling of personal data. It is also confronting a ban in the United States due to its China connections, which the US government has labelled as a national security issue.