![]() ![]() ![]() “We regularly review our businesses and make adjustments to center on long-term strategic growth areas. Notably, ByteDance also made significant investments in acquisitions, such as the notable $4 billion acquisition of the promising Shanghai-based studio, Moonton. The extent of the impact on employees remains uncertain, but earlier in 2021, Nuverse quickly expanded to approximately 3,000 individuals and has largely maintained that workforce size in the subsequent years, as reported by Chinese tech news outlet LatePost. Starting Monday, the latest series of widespread layoffs has left numerous Nuverse team members in queue, awaiting decisions about their future, as reported by TechCrunch, citing sources familiar with the matter. Despite being spotlighted as one of the company's core business units in late 2021, Nuverse is now making this unexpected move which has aparently taken many employees by surprise. TikTok's gaming department, Nuverse, is now significantly downsizing its operations after two years of underwhelming performance, the media has reported. Both of its rivals Tencent and NetEase have been pouring more resources into games with longer development cycles.TikTok parent ByteDance's foray into gaming, once touted as a significant venture, has proven to be a costly and short-lived endeavor. The success of video games, however, demands a much longer, more patient creative process and is arguably less predictable than the instant gratification delivered by dopamine-fused video clips. Through its short-video apps, ByteDance has amassed an unparalleled wealth of consumer insights. But ByteDance’s comment suggests that portions of the team will be retained.īyteDance’s debacle in video games - and its virtual reality endeavor Pico - casts doubt over the universal applicability of its data-driven, A/B testing strategy that has catapulted TikTok to global dominance. Reuters first broke the news about the layoffs on Monday morning, reporting that ByteDance would soon announce the “winding down of its Nuverse gaming brand and full retreat from mainstream video games,” citing sources. Reuters reported earlier this month that the firm is looking to divest the studio and has met with a Saudi Arabia-based firm for discussion. It’s unclear how many employees will be affected by the restructuring eventually, but Nuverse had quickly grown to around 3,000 people in 2021 and has largely remained that size over the past few years, according to Chinese tech news outlet LatePost.īyteDance has also spent heavily on acquisitions, including a $4 billion purchase of a promising Shanghai-studio studio called Moonton. This round of mass layoffs started on Monday and many members of Nuverse are still anxiously awaiting a verdict on their future, people familiar with the matter told TechCrunch. Following a recent review, we’ve made the difficult decision to restructure our gaming business,” a ByteDance spokesperson told TechCrunch in a statement. ![]() ![]() Nonetheless, after two years of tepid performance, the gaming department, called Nuverse, is significantly scaling back its operations in a move that has surprised many employees. In late 2021, the TikTok parent’s plans for video games came into the spotlight after it became one of the firm’s six core business units, posing a new threat to incumbents such as Tencent and NetEase and rising star MiHoYo. ByteDance’s gaming ambition has been an expensive, short-lived pursuit. ![]()
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