Popular video sharing platform, Tiktok in Europe has recorded a revenue increase of 545 percent to $170.8 million in year 2020 as advertisers upped their spending on the platform, according to a filing with the U.K.’s company registry on Monday.

This comes as another overlapping growth for the Chinese platform having overtaken Facebook in 2020 as the most downloaded application in the global tech community.

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In a bid to further strengthen its position, data shows that how TikTok has invested heavily in expanding its European business as it looks to take on rivals like Facebook, Instagram, YouTube, and Snapchat.

According to a TikTok spokesperson the results “reflect an exciting period of growth for the business.”

“We saw revenue increase significantly as our community grew, and we’ve continued to invest aggressively in building a solid foundation for the long-term success of the platform”.

Staff has been one of TikTok’s biggest expenses. The company’s headcount in Europe rose by over 1,000 people last year, going from 208 in 2019 to 1,294 in 2020.

Beyond staff, TikTok also spent $344.9 million on selling and marketing expenses in 2020, up from $110.3 million in 2019, according to the filing.

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