Chinese company ByteDance announced on Wednesday that its gaming unit Nuverse has acquired C4games. This announcement is part of the company’s plans to venture deeply into the video game business.
ByteDance is a Chinese multinational internet technology company. It has its headquarters in Beijing, China but is legally domiciled in the Cayman Islands. The company was founded in 2012 by Zhang Yiming. ByteDance is known mostly for its video-sharing app TikTok (known as Douyin in China). The company acquired Shangai-based social media startup Musical.ly for $1 billion, and was combined with another acquisition called Flipagram to birth TikTok as we know it today.
Figures as of November 2018 show that ByteDance had over 800 million daily active users and had a total number of users of over $1 billion across its entire content platform. As at last month, the company’s estimated value was $250 billion. The company has also gotten public attention after it was accused of working with the Chinese Communist Party (CCP) to censor content pertaining to Xinjiang Internment camps and other topics the CCP deemed controversial.
With this new acquisition, ByteDance comes directly in competition with China’s Tencent Holding Ltd. ByteDance is slowly but gradually becoming a company to be reckoned with. Its products especially TikTok have been embraced by the world and people can’t love them less. Byte Dance is known for its creative products that capture people and keeps them in an intriguing world. For its imminent video games, people expect to see and experience this same mesmerizing world.
ByteDance, by acquiring C4games aims to become a leader in the gaming industry. Experts believe that ByteDance will not fail to experience, judging from how the company has taken its previous acquisitions to the next level.
ByteDance also agreed to acquire Shangai-based gaming studio Moonton Technology last month.