×
319
Fashion Jobs
MAHLE
Asst. Manager- Production
Permanent · Greater Noida
POLYCAB
Area Sales Manager - Switches & Switchgear - Ahmedabad
Permanent · Ahmedabad
MEDCIS PATHLABS INDIA PVT LTD
Medcis Path Labs is Hiring For Pathology Area Sales Manager-Chennai
Permanent · Chennai
TIME TECHNOPLAST
Area Sales Manager
Permanent · Andheri
LIFE TURN MANAGEMENT CONSULTANT
sr. Manager Production - Sricity, Tada - Mnc Company - Engineering Ind
Permanent · Tada
MCKENZIE
Hiring For Retail Store Merchandiser / Manager
Permanent · Chennai
V2B GLOBAL CONSULTANTS
sr Technician Apparel -Buying Office
Permanent · Gurugram
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
ADIDAS
Senior Product Owner - Machine Learning & ai
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant - Omnichannel
Permanent · GURUGRAM
PUMA
Manager- Warehouse (B2C)
Permanent · Bengaluru
HARMAN FINOCHEM
sr. Manager- Api Production For Srp With Leading Pharma @ Aubad
Permanent · Aurangabad
PNB HOUSING
Area Sales Manager
Permanent · Thane
PNB HOUSING
Area Sales Manager
Permanent · Pune
JM FINANCIAL HOME LOANS LTD
Area Sales Manager - Home Loans
Permanent · Chennai
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
Published
Oct 7, 2022
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

ByteDance losses triple to more than $7 billion: report

Published
Oct 7, 2022

Chinese-owned TikTok parent ByteDance saw operating losses more than triple last year to more than $7 billion, according to a Wall Street Journal report on Thursday.

Bytedance


According to several financial reports shared internally to employees, ByteDance revealed expenditure equating to billions of dollars on maintaining its surging growth in the last two years, weighed ​down by “tens of billions of dollars in unrealized market losses on convertible securities,” the WSJ said.

The shared financial reports were for 2020 and 2021, as well as the first quarter of 2022, which were obtained by the U.S. newspaper.

The reports did, however, reveal ByteDance clocked an operating profit in the first quarter of 2022, “indicating one of the world’s most valuable startups could be turning a corner after years of incurring large losses,” the WSJ added.

Founded in 2012, ByteDance is a privately held Chinese company which rose to fame for its Douyin short-video site in mainland China, and its TikTok social media video platform across international markets. 

ByteDance shareholders include funds associated with Sequoia Capital China, Softbank, Coatue, General Atlantic and Source Code Capital.

Since its inception, ByteDance has acquired several companies across varying industries including
healthcare, news, gaming and virtual reality. Most recently, the media company invested in VR start-up, Pico, in 2021, for an undisclosed sum.


 

Copyright © 2023 FashionNetwork.com All rights reserved.