Chinese media Xinyan Finance reported on Wednesday that Lin Junquan, former Vice President of 37Games, has joined ByteDance as the head of Douyin’s ecological strategy. Lin is currently responsible for the entertainment content and the overall strategy of the platform.
37Games’ initial business focus is webpage game and the company won first place in a market value list of A-share game companies in November last year. At present, the investment scope of 37Games has expanded from entertainment to consumption, science and technology and other fields. The core business scope of the company mainly focuses on cloud games, film and television, music, brokerage, animation, VR and AR.
In 2017, Lin Junquan joined 37Games. During his tenure, Lin assisted 37Games in the early layout in the entertainment-related fields, new consumption trends, the metaverse and other fields with games as the core.
ByteDance is also making efforts to broaden its entertainment territory. In the past seven years, ByteDance has made.diverse investments in the entertainment industry, covering short videos, live streaming, online literature, brokerage, games, music and animation.
Recently, ByteDance once again invested in the virtual entertainment market. Hangzhou Liweike Technology Co., Ltd. announced that it has obtained investment from ByteDance affiliate, Beijing Quantum Jump Technology Co., Ltd. This is the first round of financing for Li Weike, which features investment exclusively from ByteDance.