TikTok owner ByteDance takes on Tencent after acquiring major mobile gaming studio
Summary
Known as the owner of TikTok or Douyin in China, ByteDance is looking to diversify beyond advertising and take a slice of the $86 billion mobile gaming market as well as expand its footprint internationally. It has managed to do this over the past few years via acquisitions and taking strategic stakes in smaller companies as well as developing its own titles. Popular titles in this category include Tencents "Honor of Kings" and "League of Legends" which was developed by Riot Games. And ByteDance last year partnered with gaming firm Gravity to release "Ragnarok X: Next Generation" in the region. "With Bytedance at the helm, the two firms (Moonton and ByteDance) could leverage TikTok / Douyin to promote Mobile Legends in markets such as China and the US where Tencents Honor of Kings and Riots League of Legends: Wild Rift are the dominant mobile MOBA titles," Niko Partners said.
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