ByteDance closed its acquired game development studio three years ago, cutting more than 100 employees despite its previous ambition to challenge Tencent in the mobile game market. ByteDance, TikTok’s parent company, dissolved 101 Studio in Shanghai this week, laying off about half of its more than 300 employees and reassigning the rest, according to Bloomberg’s […]
According to Forbes statistics, the number of technology companies that made the Global 2000 list this year has decreased to just 164, from 177 companies in 2021. Even so, technology companies still achieved total revenue. about $ 4 trillion annually, an increase of more than $ 700 billion compared to last year. Apple remains at […]
Impact of COVID-19 on economic growth and strict regulations from the government, Alibaba Group and Tencent Holdings will lay off thousands of their employees. Alibaba, China’s largest e-commerce company, is expected to lay off about 39,000 employees, accounting for 15% of the group’s total workforce. In addition, Tencent Holdings, the giant that owns the Chinese […]
The Office of the United States Trade Representative (USTR) has announced that it has put the e-commerce websites of two Chinese companies and Alibaba on the list of “notorious markets” for selling counterfeit goods or facilitating the spread of counterfeit goods. The list includes 42 online and 35 physical marketplaces that have been identified as […]
Tencent, Alibaba and ByteDance are all stepping up investments in the metaverse, a market that is valued at $8 trillion in the future. Metaverse app According to Morgan Stanley, in China, the total metaverse market value could reach 52 trillion yuan. Leading technology companies such as Tencent, NetEase, ByteDance and Alibaba are said to be […]
David Fincher’s film, available on the Tencent vod service, has been censored. Chinese moviegoers are wondering about the complicity of 20th Century Fox. In the films of the Middle Kingdom, the final word is not always that of the director. The most subversive American classics are now paying the price, like fight club , David […]
The statement came two days after Hangzhou Party Secretary Zhou Jiangyong was detained for “serious violations of discipline”… China warned thousands of officials in Hangzhou – the city where many famous technology companies such as Alibaba’s e-commerce giant Jack Ma are located. The warning was accompanied by a request to remove any “conflicts of interest” […]
Since the Chinese government launched a campaign to tighten control of the technology industry, the personal assets of Jack Ma and Tencent Chairman Pony Ma have plummeted. Follow Bloomberg Billionaires IndexPony Ma’s total assets decreased by nearly 14 billion USD since Jack Ma’s Ant Group canceled its initial public offering (IPO) in November 2020. Currently […]
Shares of Chinese tech giant Tencent have fallen sharply after an article in state media described the online game as a “mental opium”. In light of that situation, Tencent has announced that it will restrict minors’ access to its flagship video game. Tencent collapsed as Chinese media called online games “opium” Before that, the sheet […]
While TikTok and Tencent have continuously made moves to spearhead the antitrust legal battle, Alibaba unexpectedly released new financial reports. After the ups and downs of 2020 and a series of upheavals brought by Ant Group, where will Alibaba go when the first signs in the antitrust war in China have begun to take place? […]