Toutiao's parent buys startup firm to tap VR market
By He Wei in Shanghai | China Daily | Updated: 2018-03-01 08:14
A subsidiary of Beijing Bytedance Technology Co Ltd, which owns news aggregator app Toutiao and video service musical.ly, has acquired a virtual reality startup to enrich its product offerings.
Shares of VR solution provider Vscene are now 100 percent held by Beijing Shanxing Technology Co Ltd, the investment arm of Bytedance, according to Qichacha, a site tracking business registration information.
The deal at an undisclosed amount was made public via the site on Tuesday. Bytedance declined to comment.
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