Operating losses at ByteDance, the Beijing-headquartered parent of wildly popular video-sharing site TikTok, more than tripled last year to more than $7 billion, the Wall Street Journal reported today, citing a financial report shared with employees.The losses were incurred as one of China’s most successful global businesses spent to continue its growth, the newspaper said.ByteDance reported 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 report said.ByteDance shareholders also include funds associated with Sequoia Capital China, Softbank, Coatue, General Atlantic and Source Code Capital.Citing a company memo to investors, Reuters reported last month ByteDance will spend up to $3 billion to repurchase shares at a price that values the company at around $300 billion The purchases were mainly aimed at helping some shareholders improve their liquidity, a person with direct knowledge of the plan told Reuters."