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- PoliQ aims to take China to the next level of virtual reality(VR). This acquisition marks Bytedance’s interest as well as interest in the technology of metaverse.
- This deal was made last week as of this writing.
- The founder of PoliQ, Ma Jiesi, is the head of the social department, which is situated in Pico.
The Acquisition Offer
The owner of one of the best-selling and highest-rated Chinese apps, TikTok, which is ByteDance, has acquired PoliQ.
This startup aims to take China to the next level of virtual reality(VR). This acquisition marks Bytedance’s interest as well as interest in the technology of metaverse.
We all know that metaverse is a subject that is highly glorified in today’s world. Every company in the world is shifting towards this technology, and so is ByteDance.
PoliQ is the operator of the famous virtual social platform named Vyou. This platform allowed the users to create their avatars to meet people through their virtual selves.
ByteDance acquired that project for tens of millions of yuan. This deal was made last week as of this writing.
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Some Other Deals By ByteDance
This startup was absorbed into the VR headset company Pico. This company, in turn, was acquired by ByteDance too.
Huh! This was in August of the last year.
It seems ByteDance has a fantastic philosophy. Acquire your way to success. The founder of PoliQ, Ma Jiesi, is the head of the social department, which is situated in Pico.
This is in accordance with the founder’s resume, which is posted on Maimai, a Chinese platform.
Many US-based tech companies are rolling out metaverse-based initiatives to upgrade their technology to a world where everything is possible, everything is achievable, and everything is connective.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
