Tencent’s video game investments pick up under pressure from TikTok owner ByteDance

//Tencent’s video game investments pick up under pressure from TikTok owner ByteDance

Tencent’s video game investments pick up under pressure from TikTok owner ByteDance

Chinese internet giant Tencent Holdings, already the world’s largest video game company by revenue, is investing in gaming companies at a record pace this year, further padding an expansive portfolio as it seeks to ward off new competition from TikTok maker ByteDance.The Shenzhen-based tech juggernaut, which derives a third of its revenue from gaming, had invested in a record 62 gaming companies by the end of June, according to video game research firm Niko Partners. That averages out to a new…

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By | 2021-06-30T08:02:39+00:00 June 30th, 2021|Technology|Comments Off on Tencent’s video game investments pick up under pressure from TikTok owner ByteDance