TikTok owner ByteDance acquires Pico and takes first step into VR

  • GUANGZHOU, China – TikTok owner ByteDance has made its first foray into virtual reality through the acquisition of a start-up called Pico.
  • In March, ByteDance acquired a major mobile gaming studio called Moonton for a reported $4 billion, as it looks to expand into gaming.
  • ByteDance’s acquisition of Pico could pit it against Facebook’s Oculus VR division.