Category: tiktok

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Pico Interactive Acquired by TikTok Owner ByteDance

Pico Brand image1

After rumours began to appear last week that ByteDance – the owner of social video platform TikTok – was going to acquire Pico Interactive, this week they’ve been proved correct. Outlet’s including CNBC have confirmed that ByteDance has decided to delve into the world of virtual reality (VR) by purchasing the Chinese hardware manufacturer.

TikTok - London

Pico Interactive is one of the worlds largest makers of VR headsets, with its current lineup of products including the Neo 3 Pro and the Neo 3 Eye, both sold as consumer products in China but as enterprise-only devices across the rest of the world. Thus avoiding direct competition with Facebook’s Oculus Quest platform.

Details regarding how much ByteDance paid haven’t been officially revealed but rumours suggest it’s in the region of ¥5 billion (~$775 million). That makes it quite a sizable investment in the VR market although ByteDance has yet to confirm how it might leverage this investment in relation to its other products.

In a statement provided to CNBC ByteDance said that Pico’s: “comprehensive suite of software and hardware technologies, as well as the talent and deep expertise of the team, will support both our entry to the VR space and long-term investment in this emerging field.”

Pico Neo 3 Pro

While Pico has avoided competing with Oculus, under ByteDance that might change as the company looks to diversify its current business model. Earlier this year the company acquired mobile developer Moonton for a reported $4 billion, best known for its multiplayer online battle arena (MOBA) Mobile Legends.

Pico Interactive’s latest Neo 3 headsets are its flagship standalone devices, featuring Qualcomm’s Snapdragon XR2 processor, inside-out tracking, and 6DoF controllers, with the Neo 3 Eye also featuring built-in eye tracking. Both are currently available for pre-order with a launch expected in Q3 2021.

As further details regarding ByteDance’s future plans for Pico arise, VRFocus will let you know.

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Confirmed: TikTok Owner ByteDance Buying Pico VR

Last week’s rumors have been confirmed – TikTok owner ByteDance is set to acquire standalone VR headset maker, Pico.

CNBC reported the news (which was first confirmed by Chinese publication Nweon) noting that the financial details of the deal had not been disclosed. In a statement issued to the publication, ByteDance said that Pico’s “comprehensive suite of software and hardware technologies, as well as the talent and deep expertise of the team, will support both our entry to the VR space and long-term investment in this emerging field.”

Pico Acquisition Confirmed

There was not, however, any confirmation that ByteDance will be growing Pico’s business outside of the Chinese market. Currently the company sells its Pico Neo 3 standalone VR device as a consumer product with games in China, but only as an enterprise-focused ‘Pro’ device in North America and Europe. There’s also an upgraded eye-tracking model named Pico Neo 3 Eye sold to businesses too.

All the same, a company the size of ByteDance — which has seen huge success with TikTok — investing VR could present the first significant competition to Facebook’s Oculus Quest. Other companies like Sony, Valve and HTC all make great VR headsets, but they’re either tethered to more expensive machines like PCs and consoles, or exclusively sold to the enterprise market.

We haven’t tested the Neo 3 ourselves but its specs are very close to that of the Oculus Quest 2, and the headset even has some of the same games that feature on that device where it’s sold in China.

What do you make of ByteDance acquiring Pico? Let us know in the comments below!

 

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Pico Confirms Acquisition by TikTok Parent Company, Rumored $775 Million Purchase Price

Following rumors that it was poised to be acquired by TikTok parent company ByteDance, VR headset maker Pico has confirmed the purchase, according to reporting by Chinese VR publication Nweon. The acquisition price hasn’t been officially announced but is rumored to be ¥5 billion (~$775 million).

Update (August 30th, 2021): After rumors began swirling late last week, Chinese VR publication Nweon says that an internal Pico memo has confirmed the acquisition by ByteDance. VR Tuoluo is reporting a rumored cost of ¥5 billion (~$775 million) for the acquisition, though an official figure hasn’t been confirmed.

At $775 million the purchase would still be well short of the $2.4 billion Facebook paid for Oculus in 2014, but it would still be a landmark acquisition in the history of VR.

The original article, which covers the initial rumors of the acquisition last week, continues below.

In a move that in some ways parallels Facebook’s acquisition of Oculus in 2014, TikTok parent company ByteDance is looking to buy Pico—the VR headset maker behind headsets like the standalone Neo 3 and G2 4K—according to a report by Bloomberg citing a source “familiar with the matter.”

According to the report, talks about an acquisition are ongoing and a final decision hasn’t been made.

Chinese VR news publication Nweon reports that due diligence for the deal was happening as far back as June. If that’s true, and the deal discussion is still ongoing, it suggests the deal is quite far along and could be nearing a conclusion.

Founded in 2015, Pico claims to have more than 300 employees around the world. The company has raised some $66 million in venture capital to date, with its most recent round just earlier this year.

While the Pico is best known in the Western VR market as a maker of enterprise VR headsets, the company has ambitions to compete with Facebook and the likes of Quest in the consumer market as well. A consumer angle seems like the likely approach for ByteDance which is largely built around consumer-focused applications.

The post Pico Confirms Acquisition by TikTok Parent Company, Rumored $775 Million Purchase Price appeared first on Road to VR.

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TikTok Owner Considering Buying VR Headset Maker Pico – Report

ByteDance, the owner of social video platform TikTok, may be about to acquire VR headset maker, Pico.

Bloomberg cites “a person familiar with the matter” in saying the Chinese giant is in talks with Pico about a potential acquisition. These talks are reportedly ongoing, with a final decision yet to be made. We’ve reached out to Pico to confirm the report.

Pico Acquisition On The Way?

The report surfaces at an interesting time for Pico. For years, the headset maker has produced a range of standalone VR devices for various markets. Most recently it launched the Pico Neo 3, a 6 degrees of freedom (6DOF) headset with similar specs to Facebook’s Oculus Quest 2, including the Snapdragon XR2 chipset.

But, while the Neo 3 has an impressive line-up of games, the consumer version of the device is only launching in China. North America and Europe, meanwhile, get the enterprise-focused Neo 3 Pro and Neo 3 Pro Eye with eye-tracking. Earlier this year the company told us there are no plans to launch a consumer version of the Neo 3 outside of China at this time.

What the report doesn’t disclose is what ByteDance might want with Pico should an acquisition go ahead. Could we expect to see Pico double down on its consumer focus in Asia? Or might it represent a chance for the company to expand those operations into other regions to give the Quest 2 some much-needed competition? We’ll have to wait and see for now.

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The VR Job Hub: The World Bank, Gravity Sketch & TikTok

VR Job Hub

Every weekend VRFocus gathers together vacancies from across the virtual reality (VR), augmented reality (AR) and mixed reality (MR) industry, in locations around the globe to help make finding that ideal job easier. Below is a selection of roles that are currently accepting applications across a number of disciplines, all within departments and companies that focus on immersive entertainment.

Location Company Role Link
Washington, DC The World Bank VR / AR Interactive Media Production Click Here to Apply
Washington, DC The World Bank VR/AR Project Management (Knowledge and Learning) Click Here to Apply
London, UK Gravity Sketch Interaction Designer (3D/Geometric Modeling) Click Here to Apply
London, UK Gravity Sketch Manual QA Tester Click Here to Apply
Mountain View, CA TikTok Frontend Engineer, Tiktok AR Platform Click Here to Apply
Mountain View, CA TikTok Senior Technical Artist, AR Platform Click Here to Apply
Mountain View, CA TikTok Software Development Engineer in Test, AR Platform Click Here to Apply
Mountain View, CA TikTok AR Tools Engineer Click Here to Apply
Mountain View, CA TikTok Engineering Manager, AR/Effects Platform Click Here to Apply
Mountain View, CA TikTok AR Graphics Engineer Click Here to Apply
Los Angeles, CA TikTok Product Designer, AR Click Here to Apply
Mountain View, CA TikTok Software Engineer. AR Effect Platform Click Here to Apply
Mountain View, CA TikTok Tech Lead Manager, Interactive Engineer, AR Platform Click Here to Apply

Don’t forget, if there wasn’t anything that took your fancy this week there’s always last week’s listings on The VR Job Hub to check as well.

If you are an employer looking for someone to fill an immersive technology related role – regardless of the industry – don’t forget you can send us the lowdown on the position and we’ll be sure to feature it in that following week’s feature. Details should be sent to Peter Graham (pgraham@vrfocus.com).

We’ll see you next week on VRFocus at the usual time of 3PM (UK) for another selection of jobs from around the world.

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TikTok Introduces New AR Effect Using iPhone 12 Pro LiDAR Scanner

TikTok introduced a new AR effect to bring in the new year this week. However, unlike other AR effects, this one requires the iPhone 12 Pro’s LiDAR scanner.

AR effects are now a common feature of social media videos. Instagram, Facebook, and TikTok all employ AR to offer effects that interact with the user’s environment, face and more. However, a new effect from TikTok takes the AR integration even further, using the LiDAR scanner in the iPhone 12 Pro to scan objects in the environment and alter the effect accordingly.

It features a New Year’s countdown, which explodes into confetti when it reaches zero. The LiDAR scanner is used to gather information of the environment so that the confetti can then realistically fall onto objects just like real life. Here’s a video from TikTok demonstrating what it looks like:

As you can see in the video, the confetti falls onto the lounge realistically, scattering over the cushions, the arm rests, and the chaise just like it would in real life. Some of the confetti falls lower onto the floor, and it all stays correctly in place when the camera is moved.

The LiDAR scanner is essentially able to measure the depth between points in the environment and the camera lens, allowing for the confetti effect to be pulled off realistically. Because of this, it’s only available to users with an iPhone 12 Pro — no earlier models or other iPhone 12 models come equipped with the LiDAR scanner.

Have you tried out this TikTok effect or used your iPhone 12 Pro’s LiDAR scanner for something else? Let us know in the comments below.