TikTok’s Owner Wanted to Create a Hit Videogame. It Failed.

9 months ago

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TikTok’s Owner Wanted to Create a Hit Videogame. It Failed.

ByteDance to lay off hundreds of staff at its videogame unit as it pulls back another big bet on expansion

Raffaele Huang

Nov. 27, 2023 5:17 am ET

A Nuverse booth at a fair in Germany. ByteDance has told the videogame unit to terminate games under development by December and is laying off hundreds of employees Photo: ina fassbender/Agence France-Presse/Getty Images

SINGAPORE—TikTok’s Chinese parent ByteDance has bet billions on videogames since 2019, setting up its own creative unit and acquiring buzzy game makers.

Now it is winding down those efforts, its latest pullback from experimental forays into education, property brokering and virtual reality as it faces regulatory and economic headwinds at home and abroad.

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