ByteDance: TikTok Owner to Buy VR Hardware Start-Up

TikTok parent organization ByteDance is by all accounts looking to one-up Facebook anyplace it can. In the wake of assuming control over the mantle of the most downloaded web-based media application on the planet with TikTok, ByteDance is coming for Facebook’s moonshot, purchasing up its own computer-generated experience headset creator called Pico.

The arrangement initially gave an account of by Bloomberg last week was affirmed by the organization on Monday, however, ByteDance didn’t unveil the price for the deal. Pico had produced some $62 million in venture funding from Chinese firms, including a $37 million Series B in March. Like Oculus, they make both equipment and programming for their VR gadgets. In contrast to Oculus, they have a considerable presence in China. Pico may not hold a similar name acknowledgment as Oculus or HTC, yet the organization is a top VR equipment creator, offering to consumers in China and undertaking clients in the Western world.