ByteDance’s sales surged in 2023 to more than US$110 billion, according to people familiar with the matter, potentially overtaking arch-foe Tencent Holdings in a sign TikTok’s fledgling e-commerce business is driving growth at a time of economic malaise. The world’s most valuable start-up’s growth broadly matched the 30 per cent pace it managed in 2022, … Read more
“Tech for Good is one of Tencent’s missions and visions, and League of Legends is adhering to this to make the world warmer,” said Su, adding that the title developed by US subsidiary Riot Games has contributed to more than 10 philanthropic projects covering environmental protection and medical service improvements over the past decade. ByteDance … Read more
China’s video game industry achieved double-digit growth this year after a small decline in 2022, but overseas revenue fell, according to the country’s semi-official gaming industry association. China’s video game sales increased 14 per cent this year to 303 billion yuan (US$42.7 billion), marking the highest yearly sales since the data became available in 2003, … Read more
China’s Big Tech landscape continues to undergo seismic shifts, with video gaming and news portal NetEase overtaking food delivery giant Meituan as the country’s fourth most valuable listed technology company, after Tencent Holdings, PDD Holdings and Alibaba Group Holding. NetEase’s market cap stood at HK$563.2 billion (US$72.1 billion) in Hong Kong on Thursday, compared with … Read more
It will pay cash for Tencent Animation and Comics, including the app, associated intellectual property rights, and animation, film and television series. Why China is falling in love with Korean fiction According to a corporate filing by China Literature, the 600 million yuan price is a 36 per cent premium compared to the assets’ book … Read more
Short video app TikTok has become the first entertainment mobile app that is not a video game to rake in more than US$10 billion in global user spending, according to a new report, as its Beijing-headquartered parent ByteDance continues to see strong revenue growth despite political headwinds. The app known for seconds-long viral content is … Read more
