ByteDance will cancel all unreleased game projects on November 26, and plans to officially announce the news tomorrow
The media claimed that news about ByteDance’s layoffs and project axing broke out in the Maimai community today, and will bring “more detailed reports” tomorrow. According to reports, Byte’s “optimization adjustments” this time include the following:
News shows that
ByteDance is seeking to sell Mutong Technology at a price of no less than US$5 billion(note on this site: currently about 35.85 billion yuan), and has hired Goldman Sachs for this purpose As a Financial Advisor (FA), help find and contact potential buyers. Two years ago, ByteDance acquired Shanghai-based Mutong Technology Studio for US$4 billion. Mutong Technology has developed popular mobile games "Magic Rush: heroes", "Dragon Battle", "Endless Showdown", etc.
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