Unicorn

ByteDance enters ‘second phase’ of video gaming business, as new head of Nuverse unit says focus is on ‘fun games’

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ByteDance enters ‘second phase’ of video gaming business, as new head of Nuverse unit says focus is on ‘fun games’

Zhang will report to Hua Wei, who heads ByteDance’s human resources department. Mobile Legends: Bang Bang is a multiplayer online battle arena title developed and published by Moonton Technology, owned by the Nuverse unit of ByteDance. Photo: Handout In an internal letter sent by Zhang and Hua on Friday, they pointed out that the video … Read more

China added 1 unicorn per week last year despite slumping global investments thanks partly to AI frenzy, report says

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China added 1 unicorn per week last year despite slumping global investments thanks partly to AI frenzy, report says

China last year bred an average of one new unicorn each week amid frenzied growth in the country’s artificial intelligence (AI) sector, bucking a declining trend in global venture capital investments, according to a new research report. The nation added 56 unicorns – start-ups valued at more than US$1 billion – in 2023, trailing only … Read more