ByteDance’s August report to staff says revenue grew 80% to $61.7B in 2021 but operating losses more than tripled to $7.15B as it spent heavily on growth (Salvador Rodriguez/Wall Street Journal)

Salvador Rodriguez / Wall Street Journal:
ByteDance’s August report to staff says revenue grew 80% to $61.7B in 2021 but operating losses more than tripled to $7.15B as it spent heavily on growth  —  Social-media giant saw its operating losses more than triple last year to above $7 billion  —  TikTok, Instagram Reels or YouTube Shorts: Who Will Win the Short-Video Race?