philip lelyveld The world of entertainment technology

TikTok owner ByteDance takes first step into virtual reality with latest acquisition

• TikTok owner ByteDance has made its first foray into virtual reality (VR) through the acquisition of a start-up called Pico.
• Pico was the third-largest virtual reality headset maker globally in the first quarter of 2021, with shipments growing 44.7% year-on-year, according to IDC.
• For ByteDance, which found success with TikTok and Chinese version Douyin, the Pico acquisition marks a push to diversify its business.

See the full story here: https://www.cnbc.com/2021/08/30/tiktok-owner-bytedance-acquires-pico-and-takes-first-step-into-virtual-reality.html