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Big Law

TikTok Parent Company ByteDance Acquires Virtual Platform PoliQ

ByteDance, owner of short video app TikTok and its Chinese version Douyin, has acquired Chinese virtual reality (VR) start-up PoliQ, the latest move in the tech giant’s foray into the metaverse as interest in the sector continues to grow.

PoliQ, operator of the once-popular virtual social platform Vyou that allowed users to create their own avatars, was bought by ByteDance for “tens of millions of yuan” last week, according to business and trademark registration tracking firm Tianyancha.

The start-up was absorbed into VR headset company Pico, which was acquired by ByteDance in August last year, local media outlet VR Tuoluo reported separately. PoliQ founder Ma Jiesi is now the head of the social centre department at Pico, according to his CV on Chinese social media platform Maimai.

Read the source article at International Edition

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