TikTok owner ByteDance acquires Pico in a bid to integrate into VR

ByteDance, the Chinese multinational internet technology is TikTok’s parent company and has also purchased Musical.ly a social app designed for music enthusiasts. ByteDance has immersed itself into the metaverse with the acquisition of the virtual reality start-up Pico.

Pico is the third-largest VR headset maker worldwide in the second quarter of 2021 and managed to grow shipments by 44.7% year over year as reported by IDC.  ByteDance aims to take benefit of this to enhance its own products by promoting them on its platform.  For example, when Facebook acquired Oculus in 2014 in a bid to integrate its social networks into the platform.

In a recent statement, a spokesperson for Pico said, “comprehensive suite of software and hardware technologies, as well as the talent and deep expertise of the team, will support both our entry to the VR space and long-term investment in this emerging field.”

TechNET CxO is certain the rise of AR and VR means that tech companies are investing in these technologies with more confidence. The innovation in tech is never-ending.

To leave you with food for thought over the weekend, Founder and CEO of Aftermath Entertainment worth over £35 million and Beats Electronics, Dr Dre says “when ideas are coming, don’t stop until the idea’s stop because that train doesn’t come along all the time. “