ByteDance, the parent company of TikTok, is planning to wind down its gaming subsidiary, Nuverse, in a significant retreat from the gaming sector. This decision comes after ByteDance failed to compete with industry rivals like Tencent. The company will reportedly discontinue most unreleased games and is expected to lay off hundreds of employees as part of the restructuring. Despite the closure of Nuverse, the Marvel Snap game, developed by the subsidiary, is reassured to continue operating. ByteDance's move reflects its strategic shift away from gaming and its acknowledgment of regulatory and economic challenges in the industry.
Meanwhile Tiktok has been banned from growth https://t.co/A8YGn9zEQd
Video app Kuaishou releases recruitment poster to attract ByteDance employees https://t.co/Qp8XmFGFx1
TikTok’s owner ByteDance bet billions on videogames but now it is winding down as it faces regulatory and economic headwinds at home and abroad https://t.co/5wOJEp7XX8 https://t.co/5wOJEp7XX8
UPDATE: Following an earlier restructuring report, the Marvel Snap team has said its game "will continue to operate and flourish in the future", regardless of any changes with its publisher https://t.co/h9ZNxz6FPl https://t.co/vEWYMh7Jtz
Mass layoffs reportedly hit Marvel Snap publisher Nuverse https://t.co/9Y9Wg3vbaI
TikTok owner ByteDance cuts gaming jobs https://t.co/7PSp8sEPFl
TikTok’s Chinese parent ByteDance has bet billions on videogames, setting up its own creative unit and making buzzy acquisitions. Now it is winding down those efforts, its latest pullback as it faces headwinds. @raffaelehuang https://t.co/DW8JaEPBUY https://t.co/DW8JaEPBUY
Don't miss the latest tech layoff announcements from @bytedance, @veev, and @amazon! Dive into these stories and more here: https://t.co/AJYyJ303e0
Marvel Snap reassures players it will 'continue to operate' despite closure of publisher Nuverse as TikTok parent ByteDance looks to exit gaming. https://t.co/a7UahBVExV
TikTok’s Chinese owner ByteDance will wind down its Nuverse video game business and cede the field to Tencent and NetEase, Caixin has learned. ByteDance poured money into creating its own video games but the bet didn’t pay off. https://t.co/CJJTgSP1yW
TikTok’s Chinese owner ByteDance will wind down its Nuverse video game business and cede the field to Tencent Holdings Ltd. and NetEase Inc., Caixin has learned. ByteDance poured money into creating its own video games but the bet didn’t pay off. https://t.co/CJJTgSOtJo
TikTok is throwing its weight behind long-form video, after forcing incumbents such as YouTube and Instagram to launch new products to keep up. https://t.co/7skS3yoj84 Creator Economy by @kyurieff
Creator Economy Newsletter: TikTok feeds are likely to look more like YouTube as the short-video app encourages creators to make videos as long as 15 minutes. Will users stick around? https://t.co/7skS3yoj84 From @kyurieff.
Game over for ByteDance's big video game studio dream? https://t.co/j3ghLeGtBi
Marvel Snap publisher's parent company confirms restructuring, as its reportedly stepping away from video games https://t.co/h9ZNxz6FPl https://t.co/aO0yQTSO6P
Despite reports that its publisher Nuverse is being restructured, Marvel Snap will "continue to operate and flourish." https://t.co/86kOvKOKKR https://t.co/TOkIsGSFJe
TikTok maker ByteDance is restructuring its video game business to deliver "long-term strategic growth." https://t.co/yZ7l31pjUx https://t.co/MCbLDVQfx4
TikTok-owner Bytedance is laying off ~1,000 employees as it scales back its gaming ambitions https://t.co/zRlg9wjjY8
Marvel Snap Publisher Suffers Layoffs, Could Shut Down - Report https://t.co/h9SDrFqwNX https://t.co/4TM27pc5Tw
According to a report, the decision comes as the nascent unit was no match for giants like Tencent. https://t.co/Dr6RGnytz8
Huge news out of China: ByteDance (TikTok's owner) pulls back gaming ambitions. Sadly, Marvel Snap maker Nuverse will be impacted and there will be job cuts. From @pingroma and Dong Cao https://t.co/8DQrQnOqvb
Marvel Snap publisher's parent company confirms restructuring, as its reportedly stepping away from video games https://t.co/h9ZNxz7dET https://t.co/8cADC3u2Km
Sources: ByteDance plans to cut ~1,000 jobs and discontinue all but a few games that have yet to launch, backing away from its aggressive investments since 2016 (@cissy_chow / Nikkei Asia) https://t.co/ojXsf3UUI6 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/1ErP0gvPeJ
🔸TIKTOK PARENT BYTEDANCE TO CUT 1,000 GAMING JOBS IN STRATEGIC SHIFT 🔸BYTEDANCE WILL DISCONTINUE GAMES THAT HAVE YET TO LAUNCH, EXCEPT FOR A FEW INNOVATIVE PROJECTS - NIKKEI
🔸TIKTOK PARENT BYTEDANCE TO CUT 1,000 GAMING JOBS IN STRATEGIC SHIFT || BYTEDANCE WILL DISCONTINUE GAMES THAT HAVE YET TO LAUNCH, EXCEPT FOR A FEW INNOVATIVE PROJECTS - NIKKEI
Mass layoffs reportedly hit Marvel Snap publisher Nuverse https://t.co/9CibUIr09N
Marvel Snap developer promises the game won't die, as publisher Nuverse faces closure. https://t.co/kF0qLslS9c https://t.co/fz35Dm76XD
Moats. TikTok’s Owner Wanted to Create a Hit Videogame. It Failed. https://t.co/OG5N9JJ4OU
Exclusive: TikTok is pushing creators to make longer videos, as the often copied pioneer of short clips borrows a page from YouTube. https://t.co/0qD5SPw4Yu From @kyurieff.
ByteDance to exit gaming sector by closing down Nuverse https://t.co/kDi1p4PTLa
TikTok parent ByteDance has confirmed it's restructuring its video games business, potentially affecting hundreds of employees. https://t.co/3sug4zUCms https://t.co/kJ4jmnufGw
TikTok owner ByteDance axes hundreds of jobs in gaming unit as it scales back ambition - CNBC https://t.co/wtNrx0ppEK
TikTok maker ByteDance is restructuring its video game business The Chinese company is reportedly looking to shut down Marvel Snap publisher Nuverse and exit the game industry https://t.co/yZ7l31pjUx https://t.co/fFDTl0L142
TikTok owner ByteDance axes hundreds of jobs in gaming unit as it scales back ambition https://t.co/30zdr7r4ky
TikTok owner ByteDance axes hundreds of jobs in gaming unit as it scales back ambition https://t.co/FipajNbJok
TikTok’s owner ByteDance bet billions on videogames but now it is winding down as it faces regulatory and economic headwinds at home and abroad https://t.co/dPGzFogvCB https://t.co/dPGzFogvCB
ByteDance says to restructure Nuverse in retreat from gaming business https://t.co/aNfxYlfZjr https://t.co/F4XROgKNIQ
80Level: ByteDance, the creator of TikTok, is going to "restructure" its gaming business and wind down Marvel Snap developer Nuverse. Find out more: https://t.co/aLbLb4fWtW #MarvelSnap #games #gamenews #videogames #layoffs https://t.co/zIvLkiOaGH
TikTok’s owner ByteDance bet billions on videogames but now it is winding down as it faces regulatory and economic headwinds at home and abroad https://t.co/qZ4T74365j
ByteDance's latest layoffs have reportedly gutted the publisher of Marvel Snap https://t.co/x80LrHgpzy https://t.co/1hMIeujyUR
ByteDance's latest layoffs have reportedly gutted the publisher of Marvel Snap https://t.co/v0SKiQJNQO https://t.co/H38gZJzjnA
#FPTech: Game Over: #TikTok’s parent company #ByteDance to fire hundreds as it exits #gamingsector in a major retreat https://t.co/8McJsHnT2J
ByteDance is basically giving up on its attempt to conquer video gaming since 2019. Probably good news for Tencent, but not so much for China's games industry overall as 1,000+ devs need to find jobs and there aren't many posts for them https://t.co/ETb9X0JA0l via @technology
After two ambitious years, TikTok parent ByteDance starts mass layoffs in gaming: https://t.co/C4PIHuRwhi by TechCrunch #infosec #cybersecurity #technology #news
After 2 years of ambitions, TikTok parent ByteDance starts mass layoffs in gaming https://t.co/67vgBD1NEP by @ritacyliao
ByteDance to wind down Nuverse in full retreat from gaming -sources https://t.co/Fpev79Hkv1 https://t.co/TYeVkLfkXb
ByteDance to exit gaming sector by closing down Nuverse https://t.co/XpCfqFO14y
ByteDance plans to wind down its main gaming brand Nuverse in a major withdrawal from the sector, sources say, after failing to make headway against rivals like Tencent https://t.co/JNzbeoKFlO
ByteDance plans to wind down its main gaming brand Nuverse in a major withdrawal from the sector, sources say, after failing to make headway against rivals like Tencent https://t.co/lFTD2ollWQ
ByteDance to shutter gaming brand Nuverse amid fierce competition https://t.co/JQGOjGYr57
🚀 ByteDance's strategic shift in the Gaming area 🕹️ ByteDance, the global tech giant, is making waves with its decision to exit the gaming sector. Insiders have disclosed that ByteDance will officially announce the halt of development on all unreleased games. #china #technology https://t.co/U3nf1I3JEl
.@BytedanceTalk's #gaming subsidiary, Nuverse, is said to initiate a large-scale #layoff starting from Monday. https://t.co/xWTVB78Q7P
ByteDance to wind down Nuverse in full retreat from gaming -sources https://t.co/rGgKUQAp80 https://t.co/txyI17elhR
Source: ByteDance plans to wind down its main gaming brand, Nuverse, in a major withdrawal from the sector, after failing to make headway against rivals (Bloomberg) https://t.co/jebCbnNzJm 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/ll8TYx0e8K
ByteDance plans to wind down its main gaming brand Nuverse in a major withdrawal from the sector, sources say, after failing to make headway against rivals like Tencent https://t.co/Tl1CIJkEhY
ByteDance plans to wind down its main gaming brand Nuverse in a major withdrawal from the sector, sources say, after failing to make headway against rivals like Tencent https://t.co/kSYAobpmNq