TikTok owner, ByteDance, acquires Pico and takes the first step towards virtual reality

A visitor tests VR headphones at the Pico Technology booth during the China 5G and Industrial Internet conference on November 19, 2020 in Wuhan, Hubei Province of China. ByteDance has made its first foray into virtual reality (VR) through the acquisition of start-up Pico.

Zhang Canlong | Visual China Group | Getty Images

GUANGZHOU, China – TikTok owner ByteDance has made its first foray into virtual reality (VR) by acquiring a start-up called Pico.

Beijing-based ByteDance did not disclose the size of the deal, but said in a statement that Pico’s “complete set of software and hardware technologies, as well as the team’s talent and deep experience, they will support both our entry into the VR space and long-term investment in this emerging field. “

Pico was the third largest virtual reality headset manufacturer in the world in the first quarter of 2021, with shipments growing 44.7% year-on-year, according to IDC.

ByteDance found success with the short video app TikTok and the Chinese version Douyin, as well as with the Toutiao news aggregator app.

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