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TikTok says to increase investment in Britain / Photo: Kirill KUDRYAVTSEV - AFP
NYSE - LSE
TikTok says to increase investment in Britain
TikTok plans to raise its investment in the UK, its biggest community in Europe, with the creation of 500 more jobs, the Chinese-owned social media giant announced Monday.
The news coincided with the start of London's Tech Week, which sees British Prime Minister Keir Starmer welcoming some of sector's biggest firms.
"TikTok's UK workforce will grow to 3,000 this year with the addition of more than 500 jobs," the company said in a statement.
It added that it was investing in a new London office, set to open next year, and whose size will dwarf its current UK head office.
It will take TikTok's investment in UK infrastructure to around £140 million ($190 million), the group said.
Around half the UK population, more than 30 million people, use TikTok each month, making it the platform's "largest user-community in Europe", the statement added.
"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 UK," said Adam Presser, director of TikTok UK and global head of operations and trust and safety.
TikTok has been in the crosshairs of Western governments for years over fears personal data could be used by China for espionage or propaganda purposes.
"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," Presser added Monday.
T. MacDonald--SMC
