Zhang Yiming may scale back ByteDance gaming business due to dissatisfaction with performance

According to news from this site on November 27, ByteDance announced today that its gaming business "Morning and Evening Light Years" will undergo a large-scale business contraction.

According to Ifeng.com Technology, people familiar with the matter said that senior management, including ByteDance founder Zhang Yiming and chairman Liang Rubo, have been dissatisfied with the performance of Chaoxi Guangnian because the department The games developed have been difficult to retain players, and they have not been able to launch a hit game globally. Senior executives at Zhaoxiguangnian said that they will continue to explore artificial intelligence technology and applications in the field of video games.

In addition, people familiar with the matter also revealed that

ByteDance is currently looking for a buyer for its game studio Shanghai Mutong Technology, the target valuation is US$5 billion (note on this site: currently about 35.75 billion yuan). In recent weeks, the company has met with Savvy Games Group, a gaming company backed by Saudi Arabia’s sovereign wealth fund, and Tencent to discuss a potential sale.

According to previous reports on this site, after ByteDance shrinks its game business, Zhaoxi Guangnian will seek to divest the games that have been launched and are performing well while ensuring operations;

has not yet been launched. Projects, except for a small number of innovative projects and related technology projects, will be shut down.

Chaoxi Guangnian stated that it will make business direction and organizational adjustments and focus on the development of innovative games and the exploration of related technologies. At the same time, we will continue to operate the products that have been launched to protect the rights and interests of players

Recommended reading:

"ByteDance Official Announcement: Large-scale contraction of game business, Retaining some innovative game exploration"

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