Bytedance Enters Vr Sector

ByteDance, the parent company of TikTok, has made its first foray into virtual reality with the acquisition of Pico, a start-up. In the first quarter of 2021, Pico was the world's third-largest virtual reality headset manufacturer. ByteDance’s acquisition of Pico could pit it against Facebook’s ($FB@US) Oculus VR division. Last year, Apple ($AAPL@US) bought NextVR, a virtual reality company, sparking speculation it could be working on its own VR headsets.