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Search resuls for: "Moonton"


4 mentions found


☆ TikTok owner ByteDance is laying off hundreds of workers in a retreat from gaming
  + stars: | 2023-11-28 | by ( Michelle Toh | ) edition.cnn.com   time to read: +4 min
Hong Kong CNN —ByteDance, the Chinese tech giant behind TikTok, is pulling back from video gaming in a shift that will result in hundreds of job cuts. “Mobile gaming revenue is in decline while user acquisition costs are rising,” he told CNN. She suggested ByteDance was simply looking to cut its losses, particularly since gaming still made up just a tiny sliver of its business. “[Even] if ByteDance exits game development and publishing, it will not dramatically impact their own business,” she added. China is the world’s biggest mobile and PC gaming market, according to Niko Partners.
Persons: Hong Kong CNN — ByteDance, Nuverse, ”, ByteDance, Niko, we’ve, ” “, “, Lisa Hanson, Niko Partners, Neil Barbour, Tencent, ” Hanson, Hanson Organizations: Hong Kong CNN, CNN, Niko Partners, Big Tech, P Global Market Intelligence, “ Mobile Locations: Hong Kong, Beijing, Pico, China
☆ ByteDance to wind down Nuverse in full retreat from gaming -sources
  + stars: | 2023-11-27 | by ( Josh Ye | ) www.reuters.com   time to read: +2 min
The ByteDance logo is seen at the company's office building in Shanghai, China, July 4, 2023. The Chinese technology firm has no plan to return to the $185 billion global video games market, said the people, who declined to be identified as the information is not public. Casual gaming brand Ohayoo, whose games feature on Douyin - TikTok's sister app in China - will not be affected, neither will casual games that run on TikTok, one of the people said. ByteDance's 2019 creation of Nuverse was widely seen as a major push into global gaming and a strategic element of its competition with domestic rival Tencent Holdings (0700.HK), the world's biggest gaming company. Nuverse came into focus again in 2021 when ByteDance formalised its status as one of its six business units under a broader structural overhaul.
Persons: Aly, Will, ByteDance, Pico, Nuverse, Josh Ye, Brenda Goh, Christopher Cushing Organizations: REUTERS, Reuters, Moonton Technology, Tencent Holdings, HK, C4games, Thomson Locations: Shanghai, China, HONG KONG
☆ TikTok owner ByteDance axes hundreds of jobs in gaming unit as it scales back ambition
  + stars: | 2023-11-27 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +2 min
Hundreds of jobs are expected to be cut from this unit, a person familiar with the matter, who was not authorized to speak publicly, told CNBC. Following a recent review, we've made the difficult decision to restructure our gaming business," a ByteDance spokesperson told CNBC. TikTok parent company ByteDance is cutting hundreds of jobs in its gaming division, a person familiar with the matter told CNBC, marking a significant retreat from a segment it has invested billions of dollars in to challenge market leader Tencent. Over the past few years, ByteDance has made an aggressive push into gaming in a bid to challenge other gaming giants like China's Tencent and NetEase . ByteDance acquired a major mobile gaming studio called Moonton in 2021 for a reported $4 billion, underscoring its ambitions.
Persons: Nuverse, we've, Tencent, ByteDance, Kings, Crystal Organizations: CNBC, Reuters
☆ Exclusive: China's Bytedance is talking to likely buyers about gaming unit Moonton's sale
  + stars: | 2023-11-15 | by ( Josh Ye | ) www.reuters.com   time to read: +2 min
Shanghai-based Moonton, which has developed the popular mobile game “Mobile Legends: Bang Bang”, was acquired by ByteDance in 2021. At the time, it was seen as ByteDance’s biggest commitment to become a major player in the $187 billion global video games market. ByteDance's foray into video games has proven to be rocky so far. Founded in 2014, Moonton found success with multiplayer online battle arena game "Mobile Legends". Last year, ByteDance disbanded its Shanghai-based game development unit 101 Studio.
Persons: Aly, ByteDance, Moonton, Pico, Josh Ye, Muralikumar Anantharaman, Kim Coghill Organizations: REUTERS, ByteDance, Companies, Reuters, Thomson Locations: Shanghai, China, HONG KONG, Saudi, Indonesia, Malaysia, Singapore, Hong Kong
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