ByteDance acquires the world’s third-largest VR manufacturer as part of its push outside social media.
TikTok parent company ByteDance has acquired a VR startup called Pico as part of its efforts to diversify its portfolio following the success of its social video platforms. ByteDance told CNBC that Pico’s “comprehensive suite of software and hardware technologies, as well as the talent and deep expertise of the team, will support both our entry to the VR space and long-term investment in this emerging field.” The company hasn’t offered additional details about the size or nature of the acquisition.
