TikTok’s parent firm ByteDance shuts game development studio, lays off over 100
The '101 Studio' that ByteDance had acquired three years prior has now been shut down by the company.
- ByteDance had acquired 101 Studio in 2019.
- TikTok is reportedly planning to make a major push into gaming.
New Delhi: More than 100 people were laid off as a result of China-based ByteDance closing a game production studio, according to media sources. The '101 Studio' that ByteDance had acquired three years prior has now been shut down by the company. Nikkei Asia said that "ByteDance, the owner of TikTok, is dissolving one of its key game studios due to its underwhelming results." According to the source, some of the 300 people who worked at the game studio have been moved to different ByteDance verticals.
ByteDance's 2019 acquisition of the core group behind 101 Studio in Shanghai was "seen as laying the groundwork to challenge the dominance of Tencent Holdings in mobile gaming". (ALSO READ: Amid Agnipath protests, banks asked to explore employment opportunities for 'Agniveers')
The development came as TikTok is reportedly planning to make a major push into gaming. (ALSO READ: Swiggy agent sends ‘MISS YOU’ texts to woman, company replies)
The short-video making platform has reportedly conducted tests that let users in Vietnam play games within its app.
According to TikTok, the only game currently available to users on its platform is Zynga`s "Disco Loco 3D," a music and dance challenge mini-game.
TikTok's parent firm ByteDance is also likely preparing to join the virtual reality (VR) space.
ByteDance aims to invest "tons of money" in VR-related content, reports Protocol.
Over 40 job listings have popped up for Pico, the Chinese VR headset maker ByteDance acquired last year, the reports mentioned.