ByteDance, the owner of popular video app Douyin, has acquired Shanghai-based gaming startup Mokun Technology, marking the tech company's latest foray into the gaming industry.
A wholly owned Beijing based subsidiary of ByteDance recently bought a 100% stake of Mokun, Caixin learned today. Other details of the transaction have not been disclosed, and ByteDance declined to respond to Caixin's inquiry.
Shenzhen-listed 37 Interactive Entertainment, the former parent company of Mokun, confirmed the deal to Caixin.
Mokun's legal representative has been updated – now filling the role is Zhang Xudong, the senior vice president of Bytedance-owned news app Jinritoutiao.
Founded in 2013, mobile game developer Mokun’s titles include “Fighter of the Destiny,” which raked in nearly 200 million yuan in the span of one month after its launch last year.
The deal comes after ByteDance's own Duoyin launched its first in-app game, "Music Jumping Ball," last month.