ByteDance official announcement: Large-scale contraction of game business, retaining some innovative game exploration

As a quick news from this site on November 27, ByteDance announced today that its game business will undergo a large-scale business contraction - for games that have been launched and are performing well, they will continue to operate while ensuring their operation. Under certain circumstances, we will seek divestment; for projects that have not yet been launched, except for a small number of innovative projects and related technology projects, they will be shut down.

Zhaoxi Guangnian stated that it will make business direction and organizational adjustments, and will focus more on the exploration of some innovative games and related technologies. But at the same time, we will also do a good job in the continuous operation of already launched products to fully protect the rights and interests of players.

#According to public information inquiring on this website, Zhaoxi Guangnian was founded in 2019 and is a subsidiary of ByteDance engaged in game development and distribution business. Brand

"Jinghe" previously broke the news that Byte's "optimization adjustments" this time include the following:

• Notified to all projects under development on November 26 The person in charge of the project was disbanded.

• A formal notice was issued on Monday and all termination contracts were signed and disbanded. It is rumored that only one day will be given to complete it

• In addition to the compensation of N1, the year-end bonus, equity, etc. will also be converted into it, and "no less will be given" in terms of compensation

Based on previous news, Reuters, Snow Leopard Finance and others have successively claimed that ByteDance is seeking to sell its gaming unit Mutong Technology for no less than US$5 billion and has hired Goldman Sachs for this purpose As a Financial Advisor (FA), help find and contact potential buyers.

#People close to Bytedance revealed to Sina Technology that the decision was discussed repeatedly for a long time by business leader Yan Shuo and Bytedance CEO Liang Rubo . Liang Rubo believes that although the game business has achieved certain results, in the past few years, Byte Games has pursued "big and comprehensive" projects, with unfocused projects and scattered resources. It should invest energy and resources into more basic, innovative and imaginative things. project.

In fact, at the ByteDance annual meeting in early 2023, Liang Rubo once proposed that the goal for the new year is "focus" and "pragmatism." For the main business information platform and e-commerce, we must increase investment; for emerging businesses such as games, education, and PICO, we must "have imagination and maintain a normal mind."

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