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.
