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ByteDance to Dissolve Gaming Unit After Failing to Find a Buyer

ByteDance has decided to dissolve its gaming business after a failed attempt to spin off and sell the unit, in another significant strategic retreat from ... Bytedance, e-commerce, Education, investment, Liang Rubo, mobile, online game, online video, Shanghai, technology, Tencent, Tencent Music, TikTok, virtual reality, War
Saudi Arabia Liang Rubo Shanghai Moonton Technology Mutong Technology Saudi Sovereign Wealth Fund Moonton Technology

ByteDance to wind down Nuverse in full retreat from gaming -sources

HONG KONG (Reuters) -TikTok maker ByteDance is set to internally announce on Monday the winding down of its Nuverse gaming brand and full retreat from mainstream video games, four people familiar with the matter told Reuters. The Chinese technology firm has no plan to return to the $185 billion global video games market, said the people, who declined to be identified as the information is not public. ByteDance will tell employees to stop working on unreleased games by December, and that it wil...
Brenda Goh Christopher Cushing Tencent Holdings Moonton Technology Global Gaming Gaming Company
Source: yahoo.com

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