At the end of 2023, ByteDance announced a restructuring in the gaming division: she decided to close the publisher Nuverse and sell some assets, including the Moonton studio, known for Mobile Legends: Bang Bang. Bloomberg, citing Core Esports, reported that the company recently partially changed its plans and refused to sell Moonton.

Bobby Kotick, who left the post of CEO of Activision Blizzard in December 2023, is considering buying TikTok amid the threat of a ban on the social network in the United States. Sources of The Wall Street Journal claim that he has already contacted the executive director of ByteDance, Zhang Yiming, to “express interest.”

The year 2023 was remembered by the gaming industry for massive cuts. The wave of layoffs affected both indie studios and corporations: Embracer Group, CD PROJEKT, Ubisoft, Telltale Games, Blackbird Interactive, Ascendant Studios and many other video game-related companies announced layoffs. According to the portal videogamelayoffs.com Since January, 10,466 specialists have lost their jobs.

The Chinese holding ByteDance will restructure its gaming division. According to Reuters sources, during it the company will close its largest gaming “daughter” of the publisher Nuverse.

The Chinese holding company ByteDance is negotiating the sale of the Moonton mobile studio, sources tell Reuters. According to their information, there is at least one company from Saudi Arabia among the potential buyers.

ByteDance is a private company that has not been listed on the stock exchange, so it almost never publicly talks about its finances. However, recently a report for employees got to the journalists of The Wall Street Journal.

According to SCMP, the Chinese company has reduced or transferred to other studios most of the employees of Wushuang Studio. Layoffs at Jiangnan Studio are also reported.

This is reported by Bloomberg with reference to an anonymous HR manager of ByteDance. According to him, the company hopes not only to retain old employees, but also to attract new ones.

TikTok‘s parent company continues to get cheaper. According to Bloomberg, ByteDance is valued at $275 billion in the secondary market — last year its capitalization reached $ 460 billion.

TikTok‘s parent company receives a good income from mobile games, despite problems with the gaming business. Sensor Tower analysts estimated that for the period from June 21, 2021 to June 20, 2022, the total revenue of its titles exceeded $ 1 billion, and downloads — 139 million.

The ByteDance gaming direction has problems. Bloomberg sources report that TikTok‘s parent company has decided to close one of its studios — 101 Studio. Over a hundred developers are out of work.

ByteDance shareholders aren’t too happy that TikTok’s parent company hasn’t gone public yet. According to the SCMP portal, over the past year, the market value of ByteDance has decreased from $400 billion to $300 billion.

Материнская компания TikTok, возможно, столкнулась с проблемами. В мае в китайских соцсетях всплыла информация, что ByteDance решила практически полностью распустить подразделение, занимающееся изданием игр. Среди причин называли экономическую ситуацию в Китае и то, что компания якобы не смогла получить лицензию на издание новых игр в стране.

The Chinese giant ByteDance will not appear on the stock exchange until at least the end of 2022. According to the SCMP portal, TikTok‘s parent company has decided to wait until the new rules for regulating cyberspace are approved in China. Against the background of rumors, the largest shareholders of ByteDance began to get rid of their shares.

Chinese authorities continue to regulate local technology companies. Today it became known that the government now has a seat on the board of directors of ByteDance. The unprecedented decision made experts again concerned about the prospects of investing in the Celestial market.The deal was concluded on April 30, but it has only become publicly known now.

ByteDance decided to compete in video games not only with Chinese giants Tencent and NetEase, but also with international companies such as Nintendo and Activision Blizzard. She announced plans to become “a global gaming company that can remain popular for decades.”World of Warcraft

ByteDance has reported for 2020. The company’s revenue reached $34.3 billion, an increase of 111% compared to the previous year. Rumors around a possible IPO of the Chinese giant could play an important role in this.

Yesterday, US President Joe Biden revoked the orders of his predecessor Donald Trump, who demanded to ban TikTok, WeChat and a number of other Chinese applications in the country. Instead, he ordered to carefully study all applications from “foreign opponents” and assess their danger.

TikTok‘s parent company continues to invest in game studios. This time, ByteDance acquired 36.2% of the Chinese Umi Game, developers of the yet-to-be-released MMO Code: Odyssey. How much the deal cost the giant is not specified.