ByteDance experienced a turbulent 2020 when the executive decrees of former President Donald Trump made TikTok nearly have to sell himself. At that time, TikTok had nearly 100 million monthly users in the US and was valued at around $ 60 billion by ByteDance.
And now with the new President Joe Biden, ByteDance’s TikTok has no pressure to sell himself to Oracle of billionaire Larry Ellison, who supports Mr. Trump and is also the figure behind the TikTok ban. . Previously, Microsoft had planned to spend nearly $ 30 billion to ‘close’ TikTok, but the deal also collapsed at the last minute.
With 700 million daily TikTok users globally and 600 million Douyin users in China, ByteDance has a huge user base focused mainly on the Gen Z group, the last 9x generation in early 2010.
TikTok reached 1 billion monthly users by the beginning of 2021. (Source: App Annie)
If it is not possible to make good use of this group of users, ByteDance could miss out on golden opportunities for spectacular growth. And the best, fastest possible option could be nothing more than acquiring a successful gaming company. In the end, the chosen name was none other than Moontoon, a Shanghai-based developer with the popular game Mobile Legends: Bang Bang.
Some Chinese sources say the deal is worth about $ 4 billion and ByteDance is faster than Tencent.
It is difficult to say whether this price is reasonable or not as Mobile Legends is a fairly popular game in Southeast Asia. Released in 2016, Mobile Legends belongs to the MOBA mobile genre, with 5v5 gameplay quite familiar to gamers. But Moontoon was sued by Riot in the US for plagiarizing League of Legends image. After that, Moontoon’s CEO continued to be sued by Tencent in China for violating the nondisclosure agreement.
Despite the noise, Mobile Legends still strives to become a popular mobile game in Southeast Asia, a counterweight to Tencent’s Mobile League. In the West, both of these games were unsuccessful so the game was still very open for ByteDance when it bought Moontoon.
In his statement after owning Moontoon, ByteDance said it would not interfere with the developer and let the studio operate independently, similar to Tencent’s case with Riot Games.
Mobile Legends is considered as a support for ByteDance to reach further in the war with giant Tencent
In Vietnam, Mobile Legends is being released by VNG and the issuance contract with Moontoon will expire this year. Surprisingly, Mobile Legends is not as popular as Lien Quan and the number of players is also quite ‘meager’. However, this game was still selected as one of the eight eSports subjects included in the 31st SEA Games’ competition program held in our country by the end of this year.
But with ByteDance, Mobile Legends will probably get a lot of help to pull fans to follow this game. A combination between TikTok and Mobile Legends in the near future is essential in the tough battle with Lien Quan and Express Chien. In the end, the people who benefit from these deals are the gamers.
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