What They Say
Bloomberg reported that the owner of TikTok, ByteDance, is in discussion with Pico about buying the company. On the other hand, a Chinese publication, Pandaily, reported that the deal had been done for $770 million. Pico is a maker of VR headsets and is said to have the largest market share in China’s VR market.
What We Think
If Facebook are right about the Metaverse, this investment might make sense. The value of the company is good for a firm of 300 people. (BR)
